"I don't believe it'll affect the specialist world cinema end of the market for a long time...

It will be a slow process, much like the one we're still going through with vhs and DVD. As you know, there are still a large number of films that only exist on vhs. 

"The plus point of both systems is that while being incompatible with each other, they're both compatible with the standard single/ dual layer dvd discs."

True, and high-definition players that support both formats have already been introduced. I believe Samsung just came out with one which also fully honors their individual traits.