I would wait...I work in the industry, and currently, there is a war between high Def dvds and Blue Ray. Sony (as in Playstation) owns the Blue Ray technology, and some studios will not release dvds on the others format...Columbia Tristar, MGM and Sony are all owned by Sony. Thats why you didnt see Spiderman (columbia)on high def for example.Blue ray has a blue case, and high def is brown. they are kinda duking it out for dominance, kind of like the beta max/vhs wars of the 80's. The technology is very expensive, and the blue ray /high def discs are 5 to ten dollars more than regular dvds. Personally, I would wait and see who wins, and also wait for the technology to come down in price. If you have a ps3, you have a built in blue ray player.
There is a regular dvd player that gives you a higher resolution (i have seen these at WM) that might be a better buy at around $50.
JMO
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edited to add...
here is a link to the type of dvd player I mentioned