I think blu-ray is the logical choice at this moment. I'd wait until the 40gb PS3 hits shelves, that way you have something that plays games and blu-ray movies. Blu-ray seems to have more studio support and a very strong foothold in the HD market compared to HD-DVD.

Uhh... that won't be for long.

Come Oct 31, 2007 (two days from when I post this), Blu-Ray will have BD-J, which have the same kind of features as HD-DVD. Blu-Ray can also be future expandable in terms of features, whereas HD-DVD is stuck

 http://www.engadgethd.com/2007/03/24/blu-ray-players-get-a-new-standard-set-of-features-this-october/

I wonder if the TC will ever come back and tell us what he chose.

@whyser:

You mention the arrival of new Blu-ray features like it's a good thing. The fact that they have been on the market for this long without a finalized spec is ridiculous, especially when HD-DVD came to market with a finalized spec from day one.

Personally, I own both formats, and for a number of reasons I currently prefer HD-DVD.

I absolutely had to have the Pirates of the Carribean movies (Wanted Spiderman movies pretty bad too)--and they are only on blu-ray.

Overall, they're about equal on the movie page though--blu-ray has a slight more amount of releases to date.

Pretty much Paramount, Dreamworks, Univeral vs. Sony, Fox, Disney, & Buena Vista

All have great flicks, I preferred the blu-ray flicks (as many here also prefer the HD-DVD flicks--different strokes for different folks)

Also there are new rumors about Warner going blu-ray exclusive (and New Line is very tight with Warner)

http://www.homemediamagazine.com/news/html/breaking_article.cfm?article_id=11449.

Don't know which will last, but HD-DVD seems like the bigger risk. At this point, regardless of who "wins" the format war--blu-ray is here to stay because of the ps3's on the market and the sole adoption of blu-ray outside of the US.
Don't know that anyone can give a 100% answer to you at this point--but for the investment, I'll take the safe route--and that's blu-ray. (The bonus is you getting a gaming machine in the process)

The assumption that Blu-ray is here to stay solely because of the PS3 is not very compelling. The HD market penetration is currently so miniscule that to call the race either way at this point is impossible. It remains to be seen if either format will EVER come even remotely close to the DVD market penetration, especially considering how many years it took DVD to gain a proper foothold when no HDTV was necessary. It's currently a market for enthusiasts only, and will continue to be so for some time yet.

My collection of movies exists almost only of European/ Asian movies.
Blu Ray is winning in Japan and Europe and in my country some stores stop with selling HD DVD's. So I think that Asian/European movies publishers will choose for Blu Ray right?

@makingmusic476 I'm here. =] I've been quietly analyzing everything everyone is saying. Honestly, I am still torn. I am leaning towards BluRay though. Mainly because I would be getting a PS3 which would also play games (big gamer here hehe). Althoughm more expensive, money isn't an issue for me. Here is how I've compared the two formats though:

Price: HD DVD is cheaper.

Capacity: Currently, HD DVD has 30GB and BluRay has 50GB (although HD DVDs will apparently soon have 51GB discs).

Audio/Video Compression: Pretty much the same for both formats.

Max Framerate/Resolution: Same on both formats

Regions: HDDVD is region free which is nice (I like to enjoy foreign movies at times.) But honestly, that won't make or break me.

BluRay seems a bit more powerful, a bit more popular. And I enjoy watching the movies from the BluRay supporters more on average. So, I am leaning towards BluRay. By the way, does anyone know if the PS3 controllers use IR functionality? In other words, can I play the PS3 in a cabinet below my TV and have the controller still function?

@GooseGaws:
I agree to an extent, but there is no need to compare it to dvd...It doesn't need to be near as successful as dvd to be a very profitable industry or considered a success. Eitherway, as ps3's continue to sell, blu-ray just becomes that more entrenched. We may even see two formats split the market--it is a possiblity.
Also if we DO want to compare it to DVD (which as I said, I don't think there is a need), 300 sold very well on blu-ray---quite a milestone actually--over 300,000 copies as of now, which is much faster adoption than any early release dvd ever had. Blu-ray has actually taken off faster than dvd did in its time.

Eitherway, I don't think a "CLEAR" winner will be determined until 2009...by which time, blu-ray will be entrenched worldwide...and possibly HD-DVD.