redford

I am sorry if I am in the wrong forum, or if my questions are lame, or have been answered somewhere else. I did a search, but confusion still reigns.

I want to upgrade to one of the new formats, but I am so very confused. I do not understand any of the technical information at all.
Am I correct in thinking that Blu-ray and HD-DVD are competing formats like the beta and vhs formats were?

If this is correct do we choose one format and hope that the player and discs we purchase will win out over the other format?

Is the smartest thing to do is wait until the so called war is settled?

Again I am sorry if this has been discussed elsewhere, but I really am confused.

Thank you all