Is HD-TV the future of gaming?
Yes, look at the 360 and PS3, to enjoy them fully you need an HD-TV.

Do I own an HD-TV?
No, but I plan on getting one within the next year or so.

Do you think that in order to enjoy next gen games you should upgrade to HDTV's?
Yes, when you play Dead Rising on a regular non HD TV you can barely read the text. Play it on a HD and it changes everything.

As for PS3 having the only HD-DVD Drive, I beleive you will be able to purchase one for the 360 for $199, making the system cost exactly as much as a PS3.