Can the Bluray player of PS3...

read HD DVDs? I ask because as I see commercials for movies coming on the different formats, some movies are only coming to DVD and HD DVD, while others are coming to bluray as well...

I just didn't know if bluray has full compatibility with all formats.

alright, thanks for the replies. Kinda sucks for now though, I've been doing all this debating about console wars to finally decide on PS3... and now there's a whole new war for DVD formats..

At least 300 is coming to bluray ^_^