I'd say it depends on how much you watch DVD movies to begin with, and presumably you have an HDTV already.
We bought a Blu-ray player when the price got down to just over $200 for a name brand. Bought a few Blu-ray disks and our local Blockbuster was renting Blu-ray disks. Since then all the movie rental places have closed, and the rental machines (Redbox, BeX) only have std res DVD's where we are. And the novelty has worn off, been a while since we've watched a Blu-ray disk.
I expect you'll be able to stream HD soon (for all I know you already can) in which case the Blu-ray player will follow the 8-track into oblivion?
[It's widely reported that music CD's won't be produced after 2012. Movie DVD/Blu-ray disks may follow one day. Internet distribution is much faster and much cheaper obviously. Who knows?]