Remastering movies to high definition quality?

Thanks for your input everyone! Looks like some purchases will still be on hold for me.
Cytocycle: The Netflix news was great as I was not aware of their HD movie selection. Does this mean that Netflix is only backing HD-DVD?
Jaybo: Very informative information. What percent chance would you then give to HDDVD in comparison to BlueRay?

Netflix and Blockbuster (online) have both BlueRay and HD-DVD but blueray disk's have like 1/10th the resistence to scratches so the rental market on those should be filled with great fun.

If you have a big display (projector) I think it's a must spend $500 but if you have a 50" or less tv and you are sitting more than 8' away it's not as important..

2 of my friends have also made the plunge and are amazed and have no regrets as to the cost associated of the player based on the huge benifits.

Yes they did ....