LG's new drives are in the “Super Multi Blue” family, and include the GGW-H20LI and GGC-H20LI. For the functionality of these drives, and in comparison to the drives of last year, they are incredibly cheap: $499 and $399. That's a significant drop in price, and brings them closer to mainstream drives and more attractive to the consumer.
Whether HD-DVD or Blu-ray ends up becoming the dominant format, the dominant optical drive will likely be these combo units. While standalone drives for a single format are dropping in price rapidly, with Toshiba's HD-DVD units dipping below $300, the multi-format units aren't far behind.