The critical questions are about the length of the material on the disc, the size and resolution (not to mention calibration) of the display, etc. Of course no one is going to be able to tell on an SD 32" TV or even a 32" 720p LCD. A lot of people can't tell the difference between upconverted DVD and HD on small 720p displays.
I don't think there are really any questions worth asking. Comparing a 120-minute movie on FVD with the same movie on HD DVD on a 50" 1080p display or a projector will quickly determine which is which.
You can't get around the bitrate limitations. Ask what the bitrate is
FVD would probably be sufficient as a DVD replacement for the vast, vast majority of people.. but not for everyone. Certainly not for Audioholics where members regularly watch movies on expensive 100+" screens.
Might have been OK for me and my 50" 720p plasma... but in three years when I replace it with a 1080p display that will probably be the standard by then, I'd wish I got all my movies in 1080p instead of 720p.
