There are currently two very real consumer electronics battles going on right now that may be on the scale of ‘VHS vs Betamax’. For the next-gen hidef DVD formats we may have to wait some time before we find out who is the the VHS and who is the Betamax, but both formats offer capacity for HD content and both are becoming available this year. Bluray has the added benefit of being included in a ‘trojan horse’ that is coming into your family room later this year, as part of the $600 PS3 (remember that a freestanding Bluray player is currently going to set you back $1000).
The other battle is LCD verses Plasma. LCD screens until recently have not been available in the large sizes that Plasma has been available in. Plasma screens may have a shorter lifetime than LCD though, and may suffer from fading and ‘burn-in’ over time, which LCD does not. Read more in this article here.