I'd say buy it if you have:
1) An Xbox 360 elite with HDMI
2) HDDVDs to play (or a place to rent)
3) a not-so-good DVD player at the moment
HDDVD and Bluray players are real investments right now because of the high price of HDTV and HDDVD and correct cables to get 1080p or 1080i... so unless you're really eager to switch to high def movies at home I'd say wait a year for the price to drop and your wallet to get fatter and then you'll get your moneys worth...
Only difference you'd get right now without HDDVD to play or XBox 360 Elite for the 1080p is a neat gagdet to barely beats a regular DVD player thats able to upscale your picture to 1080i
I own one so it doesnt seem I'm talking off the top of my head... hope that helps!
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