How does it feel to be the last one standing in a market that used to be a battlefield of the formats – HD DVD v. Blu-ray? Not so good, according to the latest report from NPD Group on Blu-ray standalone player sales, which showed a 40 percent drop in sales from January to February in the U.S., and a mere 2 percent increase in sales from February to March.

“That standalone Blu-ray players haven’t picked up significantly from HD DVD’s loss shows that few consumers were dissuaded primarily by the ‘format war,” said Ross Rubin, director of industry analysis, NPD Group.

According to the report, HD DVD sales have dropped 13 percent from January to February, and 65 percent from February to March as production of HD DVD players was halted and the inventories dried up.

“When we surveyed consumers late last year, an overwhelming number of them said they weren’t investing in a new next-generation player because their old DVD player worked well and next-generation players were too expensive,” Rubin further said. “It’s clear from retail sales that those consumer sentiments are still holding true.”

The conclusions of the NPD analysis raises a lot of questions on the prices Blu-ray is not willing to decrease yet. Although Sony announced two months ago that some price cuts are to be expected by the end of the year, the changes consumers wants take place too slowly, and that may hurt the business more than previously thought.

In a recent study released by ABI Research, the Blu-ray format was estimated to need another 12 to 18 months before reaching its full potential, and that of course would imply a change in prices. The $200 price tag everyone’s been talking about is just a dream for now, a dream that will probably not come true earlier than 2009.