They talk about people experimenting with the new HD-DVD add on for the 360. Apparently it can hook up to any PC with ease and if you have XP or Vista you can access the file system and play HD movies.
So $200 bucks right now can get you a working HD-DVD player.
If you do decide to buy any downloadable content, like tv shows or games you can delete them off the drive and them download them again later. I've got several episodes of South Park that I do this with.