From what I have read though HD-DVD has better audio and video than BR, for now at least.
no. For Audio BD is much better. There are more disks with lossless (actually many with PCM) and even some of them with 24/48 lossless (Fox/Disney). PQ depends how you look at it (pun not intended). If you compare the best of either format BD is better. If you compare average they are the same and if you compare worst BD is a bit worst. In the end either way HD is way better then SD