I've read this in several places now. No word on cost and availabity, additionally Warner is developing a new disc technology that combines Blu-Ray, HD-DVD, and standard DVD http://www.msnbc.msn.com/id/16474617/
I don't doubt it exists (Samsung was rumored to have a dual-format player in the skunkworks since Christmas 2005), but I also don't think they'll go to market until Xmas 2007. The single-format players aren't done charging premiums yet!
That would be great. Maybe the various manufacturers will finally get the act together to produce high quality universal HD players and be ready w/ affordable players for when I'm again on the market a few years from now.