So Blu-Ray is 1080p and that resolution will be to HD what DVD was to 480p?
Yes, Blu-Ray will not be going higher than 1080p as that's 'the standard' nowadays.
a while ago there was a format war between HDDVD and BluRay and BluRay won. so Blu-Ray is 'the standard' for HD content nowadays and as PlatinumSword said, we won't be seeing anything higher than 1080p in the foreseeable future BUT eventually there will be something that comes out that is better than 1080p, you can pretty much count on that.
in my opinion i don't think we will see Blu-Ray 1080p movies going out of style anytime soon because it's not even super common like DVD is yet as prices are still a tad steep. i think your safe for AT LEAST 5+ years on Blu-Ray (most likely longer (as in 10-ish years) as i am being conservative on my estimates)