Unfortunately, I forget all the details but I remember reading a few articles about this. IIRC Blu-ray recorders are already being sold in Japan (manufactured, for instance, by Sony), and go for one to two thousands dollars. I think LG is readying a unit for the U.S. in 1Q 2005. If all goes well, there should be some price competition for Christmas of next year (of both Blu-Ray and HD-DVD units). But, like lindrone says, it will be a long time before either standard becomes mainstream, like DVD players/recorders are now. Therefore, I think it will be awhile before there is any price pressure on universal DVD players.
Incidentally, Playstation 3 will be using Blu-Ray technology.