Yeah I have too many Blu releases I need to buy, not worth buying DVDs unless they are $10 or under, more so in the $5 range. If he doesn't release Just Before Dawn on Blu now I'm sure someone will down the road, so I can wait. I'm definitely not upgrading a DVD to another DVD. Almost did that with Final Exam and House on Sorority Row, and am now glad I held off as they will be most likely hitting Blu some time next year.
DVD is pretty much a dead market for cult titles. DVDs still sell at places like Walmart or Best Buy if they are a new big budget title (And even they are selling more on Blu then DVD) or in the $5 bin. The people buying cult horror titles for $20+ though want them on Blu.
Head over to Bluray.com, one of the bigger sites dedicated to movies on disc and many of them won't buy DVDs, it becomes a series of jokes to even mention DVDs on that site. I am not that bad as like I said I still buy DVDs, but they have to be at a discount price. Check out the Scream forum, there were many cries when it was announced some of Screams future titles may only hit DVD, many saying they won't purchase them if so.
Bill may be able to survive selling overpriced DVDs on his site, but he won't make the money he could by releasing the big titles on Blu. I see Nail Gun Masacre selling a decent amount on Blu, but I have no clue what he was thinking with The Electric Chair. He should release every title on Blu IMO, but if he's going to be picky he made a big mistake starting with that title and basing sales on ow well that sells.