Blu Ray does not have nearly the dynamic range capabilities that our eyes do. One of the best DSLR's measure 14.4 stops yet our eyes can see well beyond this. Same thing with video -- it is only capable of displaying a subset of colors and contrast ratios as compared to our eyes. It's not like this is a perfect medium with no room for improvement. If one wants to make Blu Ray the benchmark to which we should compare to then the state of the art is here and no further improvements can be had. Personally I don't think Blu Ray is quite that good and I believe it can be improved upon (I'm also quite sure the next generation of projectors will incrementally improve upon this years models).