Blu-ray format... Do you like it compared to DVD?

Before I get to my questions.
I would like you to know this is our first ventcher into boob tube home entertainment.

We have just replaced our Sony tv with a new Panasonic 37 inch LCD.
Prior to the purchase we were given a used Sony 6 channel surround with "small cube speakers" and a subwoofer, which B.T.W. passes my wife's approval.
A few days ago I mounted the speakers and had it up and running using our Sony tv.

That evening we watched a movie and the both of us enjoyed the added feature of the surround sound in our home.

The both of us are not complete strangers to home theater, we have watched movies in friends home.

Through out our marriage the both of us have never really been interested in spending hours on end in front of a tv.

I recall once having a bumber sticker many years ago that read..."Shoot Your T.V."

Anyway, here we are now.

Last night we watched two dvds on the new Panasonic tv.
Blue planet documentary and a movie called Layer Cake.
The dvds were recommended and lent to us for the weekend.

We enjoyed both of them ,however we were going to spread the time for watching the dvds for Friday and Saturday night, didn't happen, however I borrowed more.

My question to those of you that own a Blu-ray player, how do you like this format compared to standard dvd?

Which brand of player are you using also would it be worth buying into this format at this time?

The current dvd player we are using now is on short term loan.

Basically I would like to experience what this highly rated Consumer Report Panasonic tv can do.