In the new format, you could have either a dual-layer DVD with its 8.5GB capacity on top of a single 15GB HD layer, or a single 4.7GB DVD stratum atop 30GB of HD goodness.
The technology should presumably be playable on any DVD player, and the HD content should require nothing more than a firmware upgrade in order to work with existing HD DVD boxen.
More...Credit: ars technica