I have both formats (Sony Blu-Ray player, Toshiba HD-A1 and HD-A2). Picture wise, I really can't tell the difference (running them to a Sony SRDX 60" (1080i LCOS set). All three players provide stunning video. Audio wise, running a 990 and a 770 with Mirage speakers (4 HDT-Rs, center HDT-F, 2 OM-5 fronts and Mirage 400 sub and Velodyne 10" sub). Generally, I am more impressed with the Blu-Ray audio. However, some of my HD-DVDs easily rival the Blu-Rays (Batman Begins, for example), which leads me to believe that mastering is a big factor. Running optical cable so not using new DD formats for HD. The HD-A2 does not have 5.1 analog outs so that is not an option for that player. Will keep the HD-A2, however as load times are much faster than with the HD-A1. Very impressed with both technologies, but realize that one will "win out" at some point. Both have excellent upconversion feature. Very happy so far. Had the Samsung Blu-Ray for a while and would not recommend it for a variety of reasons.

Mike