So is it worth waiting for the new spec to hit TVs and receivers? No and maybe. HDMI 1.3 does allow for a higher color profile but this extra space is going to be used for creature comforts such as PIP and overlay menus; you will not likely see an increase in picture quality. We feel strongly that it isn't worth waiting for HDMI 1.3 to be included in a TV but it might be worth getting an HDMI 1.3 equipped AV receiver though. HDMI is a single cable solution and currently if you want the lossless audio such as Dolby TrueHD soundtrack from your HD DVD disc, a person needs to use six analog RCA cables instead of one HDMI cable. Many people keep audio receivers for years more than the TV stays as the main set in the household and you don't want to limit yourself in that regard but these receivers can cost lots more then your Best Buy/Circuit City ad piece. If a person is looking to drop more on the receiver then the TV, then yes, wait for HDMI 1.3 otherwise you are going to be waiting a long time for 'em to hit the $500 mark and still be quality. In the end Don, it's all about personal preference and how much of an investment it is for the person.
Thanks for the question Don and hope it helped.