Blu-ray and the format wars

It appears with Toshiba quitting the HDTV business, as well as the support of several studios, that Blu-ray has become the clear winner in the formatting wars. Wanted to know your thoughts? Is the average consumer ready to spend $400 a pop on a Blu-ray player now that this will be the standard for the next few years, or does this format continue to be meant for the technophile.