definitely cool.
sony could use their discs, nintendo has partenered with panasonic in the past, and im sure microsoft will make a disc that holds 25.01 gb out of spite.
games could be huge!
... but i have three major concerns:
1) for games, CD capability is just starting to reach its maximum. a DVD capability peak is years away. is a whole new format really necessary just yet?
2) ps1 CD games had some loading times. ps2 DVD games had some loading times, often surpassing the original. jumping up 500% could take forever, unless they majorly hook up the system ram.
3) the cost! can a system that reads and plays BDs (especially with the above added hookups) be reasonably priced? are we looking at a $4 or $500 tag? can the BDs themselves still hold a $50 game? or more like a $80 game?