We saw the Blu-Ray being played through the Pioneer Elite BDP-HD1 and it looked tremendous!
I would say it looked *as good* as HD-DVD.
Walking around this show I definately get the feeling that Blu-Ray is going to have a huge launch. There is much more of a Blu-Ray presence among manufacturers than HD-DVD. The stuff that is being displayed in Blu-Ray looks sensational.
Demo disk still make me real skeptical. Early on before the Blu-ray launch the demo disc was being tauted as amazing but then the actual pressed media was released and the quality just wasn't there (atleast for those early titles). Please let us know if you happen to see any pressed discs and how they compare to the demo material.
So far I have only seen demo discs playing. I say discs because I have seen two different ones. Both discs have a one or two minute clip of the film. Like I said above, some of the film clips looked so-so (a lot of "noise", others looked fine, others looked great (animation). HD-DVD has been mostly showing F&F:Tokyo Drift. While I'm not going to comment on the film itself, the transfer is beautiful and the interactivity blew me away!
Let me point out that all the Blu-Ray I have seen has either been sourced from the new Pioneer Elite or Sony players. None of it from the Samsung player.
I have been watching a lot of Blu-Ray material being pumped through flagship 3-chip front projectors (such as the Sim2 and Sony VW50) onto large screens. Most of it has been animation that looks quite stunning. For me, the format looks as impressive as HD-DVD.
But Adam is correct that there are some booths showing less than optimum Blu-Ray presentations. I wasn't impressed with the few minutes of demo material (Behind Enemy Lines) that Panasonic was showing off at their booth. I am going back to Panasonic later today to take another look.
Adam's assesment of the HD-DVD of Tokyo Drift is spot on! This is the new flagship DVD as far as image quality and (especially) interactivity. I have not been able to see anyone from the Blu-Ray camp show me a DVD that has the sort of state-of-the-art interactivity that has been thrown onto Tokyo Drift and promised for upcoming HD-DVD titles. On the interactivitry end, HD-DVD is making huge leaps!
Also, if this has not been reported already, the second generation Toshiba HD-DVD player with 1080p output will be selling for $1K.