Memory-Tech and Toshiba have developed a single-sided, three-layer HD DVD ROM disc which can be configured in one of two ways and have content that's playable on existing DVD and new HD DVD players.
The TWIN format can either have a single 4.7Gb DVD layer and two HD DVD layers giving 30Gb, or a double DVD layer (8.5Gb) and a single HD DVD layer (15Gb).
DVD players can read whatever layers are configured as standard DVD format, whilst a HD DVD player can read all three layers regardless of how they're configured.
This format was proposed back in 2004 as a transitional format between DVD and HD DVD, and became part of the specification, but the extended three-layer media has been announced today:
"The only drawback with the first generation TWIN disc was its limited capacity: support for 15GB of HD DVD content and 4.7GB of DVD content. The new three-layer disc meets demand from movie studios and software companies in Japan and North America for a capacity boost and offers double the maximum capacity for each format, according to the companies."
Apparently the disc has a low production cost and highly efficient manufacturing process. Though there's an extra step in the process (adding the third layer), it can be done on the same disc replication machines used for DVD and HD DVD mass production.

Sounds like I'll be able to have a single disk that plays on a HD Player and a Normal Player. Could be a big problem for Blu-Ray this one . . . But more than likly they will just release a flipper with Blu-Ray one side and normal DVD the other. Or maybe both in the same pack ...
Looks good though.