I'm totally confused about Hi Rez formats

Thanks to all for the input. I am already using a reasonably decent vinyl rig (VPI HWmk4/SME309/Shelter 901), and Red Book CD (Levinson 37/360S) for my main system. My hope was to see what Hi Rez had to offer for a second system in my home. It seems that perhaps I ought to stick with Red Book for now and see what shakes out with the other formats.

I've been doing some reading up on the subject, but still have questions.

I just read the chapter in Robert Harley's "The Complete Guide to High End Audio" which describes the specifications of the two formats. He explains that SACD discs can be played in either two-channel OR six-channel modes. The SACD can (but is not required to) contain a second layer that can be read by standard Red Book CD players (so called, "hybrid" SACDs). Harley then goes on to describe the specifications for DVD-A. The DVD-A spec. calls for a disc that can contain 6-channel music along with a 2-channel mix on the same disc. Sampling rates can be as high as 192kHz with word lengths up to 24 bits. "DVD-A can support sampling rates of 44.1kHz, 48kHz, 88.2kHz, 96kHz, 176.4kHz, and 192kHz, with word lengths between 16 and 24 bits, in one-bit increments." The highest sampling frequencies of 176.4kHz and 192kHz can only come in the two-channel discs. The record producer chooses the sampling rate and whether or not the disc contains multi-channel or two-channel (or both) mixes. Some DVD-A discs contain code ("Smart Content") that tells the player to downmix to two channel on the fly.

So what should I do? Do all players on the market, be they DVD-A, SACD, or universal allow you to hook 'em up with just two channels? Is there a lot of decent DVD-A software available with two-channel mixes? Do all DVD-A players and universal players allow "downmixing" to 2-channel if the DVD-A contains "Smart Content" coding? How does one know if a DVD-A disc contains a 2-channel mix or downmixing capability? Does the disc packaging tell you?

It sounds like all SACDs will work for me on a 2-channel system, whereas the DVD-A format is still up in the air. I would still like to consider a universal player if there is plenty of 2-channel software available.

Pabelson, are you saying these formats are "dead" because of lack of acceptance from the public, and therefore, a paucity of new releases?

Well, three of the posters on this thread are sounding pretty gloom and doom for the Hi Rez formats. Maybe I'll just pick up another CD player and continue the wait and see approach. Right now I'm using an iPod w/ AAC files for the front end of my second system (Levinson 383 and Thiel CS2.4). That simply won't do for the long haul.

Rex-
I picked up the Jayhawks' "Rainy Day Music"; Ryan Adams' "Gold", and "Demolition" on vinyl last year, but that's the extent of my purchaces of new vinyl for the last two years.