So I'm wondering when the best time to get into HD will be. I'm still a bit a ways out, since I am a sophomore in college and don't have an hdtv yet. But I was wondering a couple different things:
1) How will the format war end? Will one win out over the other, and if so, when are people anticipating this to happen, and who is ahead? Or, will both prices fall to the point that it is affordable for people to own both formats, and they both remain?
2) Like SD-DVD's, will the picture/audio quality improve over time? Thus, will there be double-dipping just like SD-DVD?
3) What will player/Disc prices be in a year or two, is it smart for me to wait it out for a couple more years?
4) Does/Will Columbia House have an HD-DVD Club, or is it an attachment to the regular club?

I ask because I'm thinking about getting rid of a good amount of my SD-DVD's and saving for a player. Thanks all for helping on any questions.

There isn't a clear answer on the horizon.

I think in all likelihood, one format will take the lead in the next year or two, and the other will limp along for a short while before keeling over. I think it's more likely that both formats will die off than both becoming successes, but opinions vary. I also don't have a strong opinion as to which format will be the eventual winner; I can see it going either way.

I would say "yes" on both counts.

I'd look at who has released/announced the most titles you want. Basically, I'd keep an eye on release slates and hardware reviews. When things get to a point where you just can't wait anymore, that'd be the time to buy in. In general, prices will continue to drop, and the quality and selection of hardware and software will continue to rise. Just depends on when you're ready to bite the bullet.

With regard to double dipping, bear in mind that it wasn't a widespread practice with DVD until years later, when they had started to exhaust their catalogs of popular titles. At first, their goal will be to get as many titles out as possible before re-releasing them.

Even when they do start it, with the exception of the early MPEG-2 BD titles, I don't think they will look much better, although some of them could use new masters (Excalibur, the 1080i Warner titles). Even with new masters, many titles just aren't going to look any better due to the source (Animal House, 12 Monkeys), and any encoding improvements could be subtle. It's not like DVD where the encoding was lacking and they were releasing non-anamorphic discs.

They could always add features, but I generally don't re-purchase titles to get new extras. Those that do can never be assured that a "definitive" version is released. (Look at LOTR, for instance.) Even then, I don't see many titles that carried over their SE extras getting new extras any time soon.

The commonly thought endings to the format war are:

1) One format will win out over the other.
2) Both formats will survive
3) Neither formats will survive

Option 1 is thought by most to be the most likely, although opinion varies on which format will win. Most don't think that one will die anytime soon though, both formats have at least another year and possibly longer.

Personally, I think option 2 is more likely than 3, and about as likely as 1. One reason for this is that dual-format players are possible, and possibly even dual-format discs. There's a precedent for this occurring with the DVD-R vs. DVD+R format war.

I really don't see option 3 happening at all. Too much of the industry is behind one or both of the formats for both to fail.

With either option 1 or 2 a dual-format player would probably be the best purchase for a consumer. These types of players are rumored to be coming sometime mid 2007, although some had thought they would've appeared already.

As far as encoding, the newer codecs seem to be working fine and achieving high-quality results, although there is always room for improvement. More important would be the transfers of the films, which could be redone or remastered to achieve better results the 2nd time around, although for newer movies like Superman Returns and Batman Begins it seems unlikely a new transfer could improve anything.

On the audio front, films may later be remastered to provide 7.1 channels of surround, much like how film soundtracks were remastered to 5.1 or 6.1 for DVD. Most are currently sticking with 5.1 surround.

For extras, new documentaries, commentaries, and other extras may be produced, while current extras may be remastered in HD. Currently HD DVD carries over most DVD extras, but mainly in SD. BD titles have often been missing some or all of the DVD extras.

Aside from those reasons for possible double-dips, there's simple marketing reasons like sequel tie-ins and repackages that renew public interest in the title. So double-dips will occur, just like they did with VHS and LD.

As with any electronic device, the price will go down the longer its out as the costs to manufacture it decrease. As the formats become more popular, prices will also go down. Disc prices will be much more dependent on popularity than cost, but should eventually decrease as well.

Columbia House does not currently offer HD DVDs or BDs, neither as part of the DVD club nor separately. It's likely that they will eventually get into one or both of the formats, but it's hard to say when.

If you have a good number of SD DVDs that you no longer watch, or have titles already out on HD DVD or BD that you can make due without for a while, than it may be a good idea to sell them. However, keep in mind that it's going to take a long, long, long while for either HD format to reach the same volume of releases that DVD has had. Even then, there's always the chance that a few titles may not ever show up on either format, much like how there are still films on VHS and LD that haven't shown up on DVD.

I agree almost word for word with Jay's balanced reply except for one niggle:

I don't think there will be multi-format discs.

A patent's already been filed and granted:
http://www.videobusiness.com/article/CA6374307.html

However, I should emphasize that I feel that the chance of a hybrid disc emerging is very remote. Dual-format players are much more likely, and should satisfy most people.