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 ;-)