Am I too late to the party?

Okay, this came up, recently, in a conversation with my dad. I have yet to buy a DVD player (and the built-in VCR thingie in my T.V. is busted; woe).

And now, there is news that Sony (I think) is coming up with new technology to replace DVDs. ... So. Should I even bother? How long will it be, do you think, before DVDs become as obsolete as video tapes are today?

Or is now the perfect time to buy one -- now that they are cheap, but a goodly while before obsolescence?

Also (if DVDs will be around for awhile), I'd really like a multi-region player. I know you can convert standard players into universal ones with secret code patches, and all, but I'm not that technically confident, and would prefer plug and play, if possible. Any suggestions or recommendations?

Thankees!