advantages – HD content (audio and video), harder to scratch than DVD’s, internet conected players give you access to content on the web as well as the disc
disadvantages – more expensive, the way we are watching movies is changing – streaming over the internet is the next big thing so the format may not be around that long (This is the week that many are saying that Apple sounded the death knell for optical drives and bear in mind that they have never even installed a bluray drive in a Mac. Steve Jobs has a good track record of knowing what technology to back).