Blu-ray already obsolete?

In a recent post I talked about how PS3 is incorporating blu-ray players in the PS3 coming next year.  It's a risky move but potentially rewarding, should blu-ray take hold as the format of choice.  The X-box 360 could quickly look like yesterday's technology.

But, I just read about holographic data storage and am really impressed.  Here's a couple of links:

Red Herring
C|Net

What's so impressive?  300GB capacity (blu-ray is about 50GB -- still impressive) and, for me, the clincher is the transfer speed -- up to 10x the read/write speed of DVD (and 6x blu-ray).  Wow.  The cost is prohibitive at $15,000 for the player and media more than $100 each.  (Per gigabyte, that's pretty reasonable given today's standards.)  And if the technology takes off, the cost of the players will, of course, drop drastically. 

So, perhaps the X-box 360 team was smart to let the market figure itself out and stick with standard DVDs ... if blu-ray doesn't take off, the PS3 may end up being the new betamax.