Damn Blu-Ray, making things look nicer

It ultimately depends on your preference. I always felt the VHS to DVD jump was huge. I have yet to see anything Blu-Ray though so it's hard for me to imagine THAT much of a difference again.

However, even with such a jump, I would highly advise waiting until it becomes a reasonable price. I remember my 'rents telling me how they would NEVER get a DVD player and would just keep buying, even storing up VHS players and getting the tapes. This was furthered when the one time they got a DVD player, it didn't install easily. However, a few years later, with installations easy as pie, DVD and DVD players cheap as anything, my 'rents have not only gone straight to DVD but converted their VHS to DVDs.

Despite the difficult of installation, it was the drop in prices that got my parents to go the DVD route. Even now they tell me the good deals they get. And even now they are telling me they will stay with only DVDs...until Blu Ray Players and Discs drop in price. And if history has proven anything (CD burners, DVD burners, DVD players, etc) that is exactly what will happen.

Jam it back in, in the dark.