I haven’t seen more than about 350 or so available, not unless they are including their overseas releases in those figures (given the fact that the format is region free). Either way it is a tough call right now given the flux of studio support going on. Blu-Ray definitely carries the bulk of the major studio support at this point.
Here is the current breakdown:
Sony/Columbia/Tristar and MGM/UA are Blu-Ray exclusive
Disney/Buena Vista/Touchstone and Hollywood Pictures are Blu-Ray exclusive
20th Century Fox and their affiliates are Blu-Ray exclusive
Warner Bros. announced last week that they are going to be Blu-Ray exclusive as of May of this year (although they will continue to release titles on HD-DVD and Blu-Ray up until then). Warner Bros. also owns HBO home video, Image Entertainment (Discovery Channel Documentaries, ect.) and New Line Cinema.
In response to the Warner Bros. announcement the remaining major movie studios have reaffirmed their commitment to HD-DVD but then again who knows if that will remain true for a while.
The following movie studios and affiliates are still supporting HD-DVD exclusively:
Universal studios (including Rogue and Focus Pictures)
Paramount studios (including Dreamworks/Dreamworks animation, MTV films, Nickolodeon films, Comedy Central DVD, and CBS and PBS Home Video)
I concur with the others that it would be wise to wait at this point. Furthermore only about 30-40% of the titles currently out there on either HD-DVD or Blu-Ray are really worth owning over regular DVD if you have a decent up-conversion DVD player.
The bottom line is that HD-DVD is the better format for the consumer but unfortunately enough people have bought into the Blu-Ray marketing scheme that it doesn’t look like it will be able to hold on. Then again HD-DVD has really been in the hole before and has managed to hang on (partially due to backing from Microsoft). Anyways, even though I believe it is wise to wait on a purchase for either, I will go ahead and copy and paste my reasons why I feel that HD-DVD is better for the consumer strictly comparing the two formats.