Not everyone is willing to pick a side in the Blu-ray vs HD-DVD war, and for those people the manufacturers have been promising dual-format players. LG Electronics is getting ready to demo their first unit capable of doing such, and it will be shown off at the CES. Pricing and model name isn't released yet, and won't be until the show, but the unit will supposedly be available within the next three months.
LG Electronics is guessing, and likely correctly, that most people would much rather have a single unit that does both rather than have to bend to the whims of the fickle developers of these competing technologies. Given LG's history of relatively cheap products in comparison to other larger brand names, it bodes very well for the future of high-def consumer hardware. This is only good for the consumer.