The fact that the Revolution is being released into the market 3rd could pose as a problem for Nintendo. But could also prove to help Nintendo in the end. It has more time obveously to produce better hardware, and to fix problems that say the 360 may have during it's release in November. Most people will wait for price drops on the other consoles due to thier rediculus costs, wich will encourage people to wait until the release of the Revolution. So I half admit that It's not a great move on Nintendo's part. Although I think it will help.

But as far as the Blu-ray problem goes, no. The Revolution will not suppport HVD. But you have to consider the the time and money it would take to completely switch from what we have right now. And that Sony fans will paying tons of extra cash to continue using a format that is only acting as a transition between DVD, and HVD. Don't forget the expected pricerange of the PS3 now. $400-500. And with the expectation of higher cost in games, this could pose to be a much larger problem than Nintendo's.

One last thing. Nintendo is planning to realease the Revolution at around $200. This doesn't mean it isn't good, it means that they are expecting an initial loss to encourage an increase in console sales. They will then gain with the purchase Revolution games, and downloadable games. This poses a threat to Microsoft, and espenially Sony. Right now heres how it looks like the prices of consoles will stand:

Revolution-around $200.
Xbox 360-around $300.
PS3-$400-500.