Really nothing matters until there are cheap players, good selection of films and shops (HMV *cough*) stop ripping people off people of new technology.
I got the HD DVD add on for the 360 from play last month and I love it, watching films is so much more enjoyable with HD. Aeon Flux was great.
Betamax was ripping the crap out of VHS for the first two years and that won didn't it.lol
I don't think the PS3 will do much TBH, it is not a great console and people are finally starting to see that.
You can get the same thing but with HDDVD from the 360 for a bit less, upscaler, HD player and a 3rd gen player.
I think it is very open ATM, like I was thinking about not getting HD because of star wars but then I thought it just does not matter because it will be ages (2008+) before that comes out.
The only film I'm a bit gutted about is Casino Royal and the bond films but I can live without them.