Let Go Of The Standard?

[HDGamer]

I have been borrowing, renting, and buying DVDs since forever and have a nice collection. I have a PSP and I rip my DVDs and convert for my psp if I want to watch a movie or show on the go. I also don't want to replace my collection and start all over again like with VHS and DVD for the DVD to Blu-Ray transition
when the PS3 gets a price cut and I finally get a Sony Bravia(2007 32'' version). I don't know if I should buy new DVD releases for it being standard and still common as well as being able to rip it for my psp, sharing my DVDs with my friends, and having more titles.

I don't know what to do. If I have Blu-Ray movies, and family members come over, and want to borrow some movies, I can't give them anything as they are high defintion discs, not standard definition. I also don't know if Sony will release a program and service that lets you have a huge price cut for movies and shows you already own on DVD(like lets say you have Shooter on DVD, and they offer it for download on a download service for psp, but you only pay like $5 for it as you already own it).

But, I will say this. Most of my family knows what high definition is, and if I had Blu-Ray movies, they wouldn't care if they couldn't borrow as they would be too amazed by the picture quality. Or that might now happen.

What should I do?