Not blu-ray Kev, they are only 50gb, the higher capacity discs are the holographic ones I mentioned, and they can actually hold up to 3.9TB, with a transfer rate of 100GBits. The higher capacity ones are still expermental, but 200GB ones should be on release by summer.
For the purpose of films and such these high capacity discs would be amazing, movies could be stored completely uncompressed in high quality for HDTV with uncompressed surround sound, and never again would another disc be required for the bonus features, of which there could be a lot more than on a DVD.
I think that blu-ray and HDDVD will die out by the end of next year and that these HVDs will start to take over, but it will probably be another couple of years before the 1TB+ discs are widely available, and a couple more before they start replacing DVD as the standard for movies and data backup and such.
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