Actually it is spelled Blu-ray. Not Blue Ray.
And I love Blu-ray. With the exception of some early titles from 2006, ALL of the Blu-ray's I own are excellent. I own 31 and my friend owns around 50 or so. They have beautiful picture and wonderful sound. It is a VAST improvement over standard dvd.
I can't wait to get Carrie and Amityville Horror.