To me, Blu-ray has always been an expensive solution in search of a problem. Since regular dual-layer DVDs can hold 9GB and the writable media are uber-cheap, the most logical thing stepping stone for a "higher def" DVD format would have been to use 720p video, with AVC/AAC compression on a standard 9GB DVD. One could still fit around 2-3 hours of video on one side of a disc, which is about the same as an MPEG2 480p DVD.
Although, I guess for me, having an optical media drive is fairly pointless unless it has the capability to burn media, as well as read it. And since BR-R drives are still extremely rare and $$$$ and the blank discs are $25 / disc, I just can't see Blu-ray being useful.