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I kind of have. My desktop has to monitors, a 720p one and an LED 1080p one, so I tend to use the higher res one for my media consumption. I tend to just watch stuff on the net but I will admit to seeing an increase in quality just switching from my main monitor to my media monitor.
I rarely watch SD content anymore.
I own a 23" 1080p monitor, currently hooked up to my laptop until my desktop is finished.
My parents have a high definition TV... I forgot the size. Sadly, only SD for now b/c my parents don't have the right cables (only HDMI port is being used by the blu-ray player).
I usually swap them when I want to watch TV though.
My dvd player is a portable and I mostly watch things on the computer anyway. All the tvs in my house are boxes of various sizes. One has a built in dvd player, one has a built in vhs player, and mine just has a vhs box hooked up to it. As you can guess, everything's SD. My computer's 1280x800 and it's suits me.
I've got a HD TV in my living room with a Blu-Ray DVD player connected and honestly. The only bit i like about the whole thing is that the TV has a USB port for me to watch all the films I've got on my external hard drive.
It's nothing mind blowing, I can hardly see the difference in most of the things i watch. I'll probably buy a HDTV so I can save space in my room but as for a Blu-Ray player? Not going to happen any time soon.
We had a very old TV which was big and had really bad colors. Ugly reds and blue, it was terrible to watch anything on it. Fortunately my parents got a HD screen and it changed our life. As you said, it's an amazing feeling. I don't think blue-ray is that much necessary though. Quality is already pretty good with low quality movies...And you get used to the small pixels everywhere quickly. ;3