That's a fair argument. The only really phenomenal HD programming option comes from Dish network (which, again, is a non-option for me).
For your purposes waiting is a good deal.
For *my* purposes I get good value out of a HDTV presently. I have a moderate number of HD channels (fortunately including TNT, as my wife likes Law and Order). Standard DVDs are more enjoyable on a widescreen display; I've saved a bit of money and a lot of grief by not going to movies. Lastly, the set we chose (a Panasonic LCD rear-projection) has 4 component, 1 DVI-HDCP, some S-Video and two VGA inputs so it makes a great computer monitor.
"fortunately including TNT, as my wife likes Law and Order"
Are Law and Order reruns in HD or are you watching 4:3 TV in HD?