It is at least a decade too late for this commentary but I feel like talking about them now. My local library is getting rid of all it's VHS tapes to make room for DVD's and Blu-Ray discs. I don't really like this, since there are quite a few movies on VHS that were never released onto DVD and are not likely to be released on Blu-Ray. Some films, even though they are on DVD, the library only has the VHS version, for example Sunrise at Campobello - a very good 1960 biographical film on Franklin Delano Roosevelt and his family dealing with his paralysis that prevented him from walking (amazon.com only has the VHS version as well at this time).
DVD may have better video and sound quality than VHS and Blu-Ray has even better most likely. I do not have a player for Bluray, though I heard that image quality really is not that much better if you have an upscaling dvd player. Not that it really matters since I also do not have a high definition television.
I had/have less trouble with VHS than DVD. My old VHS tapes still play, sure some have a few lines or image problems from age or being too close to a magnet but in general they all play. Some of the DVD's I own though do not play. Some I put in the DVD player and the machine tells me bad disc error. Some refuse to play because of copy protection. I have had movies I took out from the library or rented that would not play on my computer unless I ran a program that stripped them of copy protection. I keep my discs in cd books and they should be protected from scratches and the like, I still some how manage to get small scratches that cause the video to freeze then skip several seconds before resuming. Rentals are more likely to not play from damage than VHS tapes used to.
I do like the extra's on DVD's, at least some. I don't usually listen to video commentary, or watch the making of documentaries. I like that they often have the option for subtitles or if foreign have the option for dub or sub. I was okay with VHS and still watch them and VCD (VCD are big in Hong Kong/China so some films are easier to obtain in VCD format) .