Been doing this myself actually...right now. I am planning on buying a PS3 is 2 weeks or so. I already have The Departed, 2001, The Shining, Planet Earth, Full Metal Jacket, 300, PotC 2, and Blade Runner on Blu-Ray due to some recent specials and a few I got for Christmas.

I thought this was a great strategy because I got such great deals. I got Planet Earth for $52, MSRP is $99.99!

If you know for a fact that you'll be getting a Blu-Ray player (and sooner rather than later), I don't see what the problem is. Back when DVDs were brand new, I bought some titles before I had an actual player. Two of them were the JFK and Seven flippers! :)

My position as an early adopter....I know that I'll take the plunge either way (Red vs. Blue vs. Neutral) much sooner than later, so if a deal on software presents itself, I'd be all over it.

I know that I'd never be able to sit out any format war since I can't *know* that there's better equipment out there that presents a *superior* picture and *better* audio than the equipment that I own.

I bought the PS3 first (this time around), but purchased software (at least 20 titles) prior to owning hardware when SDs debuted in '97. And I know I'd do it again ;)

Good idea for the amazing bargains if you are going to dive in eventually. But a bad idea for the wallet ;-)