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If they do have a developed
If they do have a developed blu-ray then why would they announce it now and probably lead to a decrease in xbox 360 sales? If i was planning to buy a 360 and knew a blu-ray player would be coming out a few months later...i would wait.
Why not just buy a ps3? Blu-ray seems like a lost cause for the 360 because of the price point that rapture discussed. Besides you can download HD movies off live for a good price...and are you really going to watch a $35 blu-ray movie 5-6 times within 6 months or a year?