First things first: it's Blu-ray, not Blue Ray. There is no such thing as Blu-ray DVD. Technically Blu-ray is not DVD.
This is definitely wrong time to buy a Blu-ray player, because as of this writing Blu-ray spec has not been finalized, so current crop of players will not be able to access all advanced features, that will appear with new Blu-ray releases.
Wait another year, when players and technology are mature, prices are down to 100 US dollars, and the whole DVD industry is united around one single format. This includes not only US Studios and US market, but other markets in Europe and Asia as well.
In the present situation it would be really a bargain idea to buy Toshiba HD-A30 player for 99 bucks (in the US) with more than 400 HD DVD titles available in US and Europe.
In the meantime you'd be able to satisfy your HD hunger and save money for cheaper Blu-ray or Combo player, and postpone your final decision for a year.
IMHO HD-DVD is not yet dead, despite recent developments and what you might have heard elsewhere.
