I think DD & DTS are good enough. Sure you could go "all the way" with PCM, DTS MA, & TrueHD. Sure 1080p would be nice. But 720p, DD, & DTS are good enough for most people.
I'm watching "Day After Tomorrow" on blu-ray. It is capable of 5.1 DTS-HD MA. However, my system cannot extract this, so I'm just listening to plain DTS.
You know what? This plain old DTS sounds a lot more impressive than a lot of Dolby TrueHD & PCM Uncompressed audio I've heard.
Some of us just gotta have 1080p, 7.1 PCM, 7.1 TrueHD, & 7.1 DTS-HD MA. Some of us just gotta have both blu-ray & hddvd.
But 720p, DD, & DTS is just fine.