Looks like the hardware vendors have figured out that a Blu-Ray/HD-DVD format war isn't a great idea: there are plans to start shipping dual mode devices:
Samsung and Toshiba have joined forces to end the format wars for good. They are releasing a hybrid player that plays both Blu-ray and HD-DVD formats. But that’s not all! Sony and NEC are also releasing a dual-format player of Blu-ray and HD-DVD. This is back-up for Sony, since they did loose miserably with Beta.
I'm certainly more likely to buy one of those in the short term. My other option would be to hold off until a clear winner emerged.