This is what I have always maintained. It is true for me and I am sure true for the greater mass of people.
You see, vhs to dvd was a giant leap, both in quality and usability. dvd to bluray is a small step. Most people can't really see much of a difference. I can, but I am not paying the current entry price for that difference.
HD media won't take off until it is priced similar to DVD's and their respective players.