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I doubt consumers were waiting because in my experience most consumers don't even know what Blu-Ray and HD-DVD are.

A big difference between DVD and Blu-Ray is that fact that people didn't have to buy new tvs to appreciate DVDs as opposed to Blu-Ray in which you basically have to have an HDTV to even see a difference. Add to that the fact that some non-videophiles wouldn't likely notice much of a difference even then.

Then there's the matter of price. Are most consumers willing to spend more money for the same movies? And what about the large segment of DVDs and DVD players devoted to young children, are a lot of parents going to be willing to put in the investment so that their kids can watch cartoons in HD?

I guess we'll see what happens this year and next but I really doubt that we'll see Blu-Ray becoming a thread to DVD for years to come.