NTSC and PAL are the output formats. They vary based on region and I do believe that HD doesn't negate that. Perhaps HD monitors and TVs do not have a differentiation for regional decoding, but it's really not important.
They both put out 1080p. They both have lossless audio options. BD-DVD comes in 25/50/100GB varieties (theoretically). HD-DVD comes in 15/30/45GB (theoretically). As for the data space available on the disc for movie content, almost all current HD-DVDs are dual-layer, 30GB discs. All Blu-Ray discs, to my knowledge, are single-layer 25GB discs. Hence if you believe that the available data space is important (which really it's not), then HD-DVD wins.
Technologically speaking, they both have identical output offerings. The big benefit to HD-DVD is the extended (internet) options in movie, picture-in-picture offerings (commentary in a smaller picture while watching the movie) and industry backing (Microsoft may be a bitch, but they fight dirty and have more than enough money to through around, which shows itself in the HD format wars and the 360 vs. PS3 wars).
The studios that support HD-DVD are preferred by me, but that's personal taste. Honestly the only Blu-Ray-only studio that bums me out is Disney. Also, unless you rent a shit ton of movies, I don't understand why Blockbuster going BD-DVD instead of HD-DVD makes it somehow better. Rentals have slid for years now, due to downloadable content, piracy and on-demand cable are eating into that market quickly.
*shrug* in the end, I guess it's just a matter of opinion. What I had planned to post was a tech table detailing much of what I said here, but I'm having some HTML related issues. I'll see what I can come up with. It basically showed what I said... they are nearly the same, but one will still come to rule in the end (or neither, but certainly not both). I choose HD-DVD over BD-DVD any day of the week.
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