Hmm, I just use my PS3 as my BluRay player and I have a Panasonic HD DVD Player for that and other formats... I agree that the cost has not yet gotten to were I will buy a new player but in another year they should hit the $39.00 range for the low end models.
Matt
I'm about the reverse - dedicated Blu Ray player but I use an Xbox360 + an addon for my HD-DVD player
.
They did have some good Black Friday sales on the players this year though. $78 for a BluRay player at Wal-mart. I'm sure with that already out there (even if on sale) we'll probably see $40 players by year's end.
It really depends on what you're looking for as to whether or not it's time to upgrade. If you're going to be playing games on a PS3 or Xbox360 then going to an HDTV is a no-brainer (Wii isn't as clear cut as it won't do HD). The systems don't really shine until you go up to that level.
If you've already got an HDTV to use then I'd say definitely go for the BluRay. The movies really do look a lot better. I'd also say that if you're already in the process of replacing an old TV or buying one for a spare room, then there's really no reason NOT to go HD these days. Maybe only 720p instead of 1080p (my set is 720p and I still like it, even though I want to upgrade soon), but definitely HD.
Now, if you're just watching TV and regular DVD's and you're happy with your current equipment, then I'd say it is probably a good idea to wait on upgrading.
Also, FWIW, even though I'm personally a big fan of BluRay, my movie purchases still aren't exclusively BluRay. Since the player works with DVD's too, I usually consider each movie individually. If it's a particularly special effects heavy movie then I'll go BluRay (Avatar for example will pretty much certainly be a BluRay purchase for me). If it's just something I purchase on a whim to watch, I'll often still buy the DVD version because it's cheaper. The only movie that I previously owned on DVD that I felt the need to go out and rebuy on BluRay was Batman Dark Knight.
All in all though, it's still all just personal choice for the time being. I'd wager that they won't stop making DVD's for at least 5-6 more years, and it's quite likely that they'll keep making them well past that (possibly for just as long as they make Blu-Ray discs). If you prefer to stick with the DVD's then you'll be good. The only thing working against you is that the movie industry would love to switch to BluRay completely since the copy protection scheme on DVD's isn't as strong (DVD's was a joke - geeky companies used to make t-shirts with the Perl source code printed on the back that can crack a DVD's encryption
), but market pressure won't likely allow that anytime soon. I could go on for pages about the evils of DRM/copy protection, but I'll save that for another day
.