been hearing about HDTV, for at least 12 years at NAB.
Getting there and starting to reach critical mass. Critical mass = mainstream, reasonably priced, available content.
Next important step: reasonably priced HD DVD players and a convergence of the standards. This may take a few years to sort out because of the two competing technologies. Plus the availability of reasonably priced burners.
I am waiting and I use a HTPC for my high definition production and play back.