I'd been sitting on the fence, waiting for the dust to settle on the BD vs HDDVD war. When it appeared that the tipping point had been reached, I found a Panny BD-10A at a killer price and went for it. I've watched about 8movies on it so far, and compared a few BDs with SD discs that I own. All I can say is I'm underwhelmed.
Since I've got a better-than-average SD DVD player (Denon 3910), I was pretty happy with the video and audio quality of standard DVD. I had hoped the Blu-Ray would be accompanied by quantum leaps in video quality and the new audio codecs would send me into paroxysms of bliss heretofore unimagined. Guess I'm just jaded in my old age, but the difference wasn't as dramatic as the hype led me to believe. Not that there's anything wrong with Blu-Ray, but I guess if you already have a pretty good SD DVD and display, you may not be bowled over with the improvement.
Of course, that's just my opinion...I could be wrong.