Still far too expensive
Blu-Ray has been around for about 4 years now and it's still impossible to find a player (let alone a recorder) for under 50 pounds. At almost 300 pounds, the pricing of this should be considered "high-level" and not "mid-level" nowadays, but the prices of players/recorders have been moving far too slowly downwards really.
The problem Blu-Ray is now having is that average net speeds have been climbing more quickly than its price has been dropping, so there will come a point in the next few years where end-users will consider HD movie downloads as a viable option (they aren't really at the moment).
Blu-Ray movie discs need to cost the *same* as DVDs, IMHO - this would encourage more people to buy Blu-Ray players and drive the price of the players down more quickly. There has to be several "cheap and cheerful" 50 quid Blu-Ray players out on the market in the next year or two or Net downloads will start to hit the Blu-Ray market, IMHO. And I haven't even touched on the fact that most people think DVDs are "good enough" (especially whilst the discs and players are notably cheaper than Blu-Rays).