I guess my perspective is that I would be willing to switch to Blu-Ray if the following conditions were met.
Mature players with full 2.x capability that are not the PS3
Reasonable prices
Multiformat players ideally so that I could read my HD DVDs
No region encoding.
I don't want to start a flame war but except for content ( a big exception), I just don't see what Blu Ray has for me.
For now, I'll just pick up HD DVDs at fire sale prices and enjoy them until a good multiformat player comes out that I can afford.