Eh-hem. I would like to add a few words about the HD Formats. The first Blu-Ray releases, such as Fifth Element, used single layer discs with the ancient MPEG-2 codecs (used to compress data to DVD for those that don't know). HD-DVD however started using the more efficient MPEG-4 and/or VC-1 codecs for their initial releases. Blu-Ray now uses VC-1 and/or MPEG-4 codecs to more efficiently compress data to their media, and they also are using dual-layer 50 gigabyte discs.
Yes Blu-Ray is still more expensive, but they have beaten the stereotype and actually have a decent marketing campaign, and a butt-load of support from those who ultimately decide which format will be the winner, the studios.
Blu-Ray has exclusive studio support from Disney and all it's subsideriaries and FOX. HD-DVD has exclusive support from Universal I believe, but it would appear all that does is keep HD-DVD in the game. If Universal starts putting stuff out on Blu-Ray it could spell the end of the format.
The Playstation 3 is almost as cheap as the HD-DVD players and I read a stat that around 1.8 million PS3 units have been purchased in the U.S. and 80% of those that purchased PS3s also purchased Blu-Ray movies, and why wouldn't you if you have an HDTV.
One last thing for this post, I noticed that the opening poster has a 48" Mitsubishi Projection TV. Now I am not saying that your TV is bad, but if it is a CRT projection it will not do Blu-Ray full justice. It should still look better than DVD, but not in leaps and bounds I would trust.