“Blu Ray is technically superior...”
Do you mean the specification theorectically allows for higher audio and video resolutions, greater color depth, more audio channels, more info in general? Because my understanding is that they’ve done a pretty poor job of rolling out the early players (probably to respond to and head off HD-DVD). The standard is evolving, and some players are missing things. I understand that not all Blu-ray players play all Blu-ray discs.
Blu Ray discs hold 50 GB vs. 30 GB for HD. Blu Ray bandwith is 48Mbit/sec vs. 30 Mbit/sec for HD. Blu Ray discs also have a protective hard coating.
You are correct in that Blu Ray players have gone through the three versions of Blu Ray 1, 1.1 and now 2.0. 2.0 is the last spec for full use of all of the potential in the Blu Ray discs. From now on most Blu Ray players will be full 2.0 specs and will be able to perform all Blu Ray functions.