Latest on Blu-Ray vs HD DVD ?

My display is 1080 and seems be capable of stunning picture limited by source. Cable HD can look awesome, but I understand it is not 1080p. Currently I'm using an upscaling DVD player and movies look very good, but I think it's time to think about exploiting the capabilities of my TV. What is the latest thinking on HD/Blu-Ray players? Should I look for a universal DVD that plays both formats, or choose one like the Toshiba HD-XA2 that has top marks in one format only? Thanks for your opinions.