If you like Toshiba, you may want to look at the Qosmio F45-AV425
. I bought this one about a month ago and it has performed nearly flawlessly for me the entire time.
Compared to the P205 you listed, the F45 (which will cost about $500 more) has a faster processor, bigger hard drive, Vista Ultimate, integrated nVidia 8600 graphics, wireless N, and HDMI output. You lose the 17" screen, though, down to 15".
HD DVD playback is very smooth. I get about 5-10 seconds of slight stutter every 10 minutes or so of playback. Enough for me to notice, though my wife swore she couldn't see what I was talking about. This is whether I play it on the built in screen, or output to my HDTV. I have a Hitachi 50v500a, and am using a DVI-HDMI cable for connection. Image quality is VERY good.
Worth the look. As a bonus, the specific P205 you cited isn't eligible for Toshiba's 5 free HD DVD offer, whereas the F45 is.
I agree with the others, might as well future-proof now, rather than duplicating effort (and expense!) later on.