This article highlights some of the good reasons they have for a delay:
The first news of a possible delay came three weeks ago, when the Wall Street Journal reported that Paramount Pictures had scrubbed plans to launch content on HD-DVD this year. The Viacom unit is now looking at 2006, the newspaper says. It also reported that General Electric’s NBC Universal had decided to cut the number of discs being launched this year from 16 titles to about a dozen.
A dozen titles does not a successful launch make, not by a long shot. And I don’t believe the first generation of HD-DVD units will be recorders, unlike BD which was designed from the start as a recordable format so it is likely many BD decks will record. (Makes me wonder if the PS3 could burn BD-R/RE.)