Id say as far as storage space goes and reasons why we have not seen a winner in the next generation home video format wars HD-DVD vs. Blu-Ray. This is what I plan to do.

All HD-DVD titles(Single layer or duel layer) will use either the "MPEG-4 AVC" and/or "WMV VC-1" video codec. This choice will be made by the director.

All Blu-Ray titles will use the "MPEG-2 HD" video codec.

As far as audio goes, both HD-DVD and Blu-Ray titles will deliver Dobly Digital 5.1 and Dolby Digital Plus 7.1 but only Blu-Ray titles will feature a 2 channel PCM soundtrack.

Ok for the sound and picture, here is the break down on the standard soundtrack but these standards are for the Main Feature only. These standards only apply to Single Layer formats

HD DVD Picture:
1080p VC-1 or AVC @ 13 or 12Mbit/s a second.

HD DVD Sound:
Dolby Digital 5.1
Dolby Digital Plus 7.1
Dolby TrueHD 2.0(Straight to video only)
Dolby TrueHD 5.1(Theatrical release only)

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Blu-Ray Picture:
1080p MPEG-2 @ 20 Mbit/s a second

Blu-Ray Sound:
Dolby Digital 5.1
Dolby Digital Plus 7.1
Linar PCM 2.0(Straight to video only)
Linar PCM 5.1(Theatrical release only)