Things I've noticed: The trouble with Extended Editions

So here I am, a huge fan of the recent Hobbit films - I mean no, not quite as big a fan of them as I was of The Lord of the Rings, but definitely a big enough fan I would like to have them for my own collection (singing dwarves and all).

The problem comes down to the whole extended edition/complete collection box set issue.

When we first saw The Lord of the Rings: The Fellowship of the Ring, back in 2001 I knew I wanted to own it on DVD; luckily enough, my wife had heard there would be an extended edition coming out so we might want to wait until it became available, in case it was better than the theatrical release (not necessarily better, but for long-time Tolkien fans like my family, a beloved edition).

Fast forward a few years and after The Return of the King: Extended Edition, came out, there was an inevitable boxed set including all three films - so we sold off our copies of the first two films, and bought the boxed set (which sits very nicely on our shelves to this day).

Now that the first Hobbit film has released its extended edition, the question gets a little more complicated - do we wait until all three extended Hobbit films come out on DVD to purchase them as a boxed set?  Will there be an even bigger Hobbit/Lord of the Rings boxed set if we wait?  Should we be getting it on Blu-Ray rather than DVD?

It's pretty tricky, so for now we're waiting to see, and who knows, by the time the last film comes out all extended-like, maybe there'll be a new medium to purchase it on - micro-Blu-Rays or some kind of crystal?