Um this is just stupid, really. Yes you've bought that Blu-ray movie for your 1080p TV, but why the hell would you watch the same bloody movie on a 3.8" screen? When does anybody have that much free time to watch a movie when they only have their phone with them - for a movie that they already saw on a better screen? After you see a movie once, are you really going to watch it several more times to get your moneys worth out of the purchase? How does it make you feel that those dusty DVD's in your old collection probably won't get touched anymore now that you've watched BD in all of it's 1080p goodness? What happens to your BD "investments" once something new comes out?
As much as I like my own home theater system too, the price of HD PPV movies and Blu-ray rentals is steadily climbing, and for less than a couple of bucks more I can see it day-one of release at the movie theater with a massive screen and infinitely better sound system, instead of waiting 6 months to a year to come out on satellite and BD. And no - I don't buy food at the snack bar.
Nowadays, my set gets used for mostly just gaming and network TV shows.