My wife and I agree on one thing with DVD's... if it involves WWII in any way, shape, or form, it's likely to be added to the library! We've got 20 so far! Story is most important to us, and can't have horrible content, as I'm sure you'd guess with my nickname. 
(for WWII films, obviously they'll have violence, and most have language, but as it's in context, I can deal with it)
We have Patton, Battle of Britian, The Great Escape, The Longest Day, Tora Tora Tora, Twelve O'Clock High, Saving Private Ryan, A Bridge Too Far, Enemy at the Gates, Bridge Over the River Kuoi, Hart's War... all the classics, and then some. Still need to get Das Boot though...
We also have The Thin Red Line and U-571, though neither were too good. (actually, I hated Thin Red Line). But they were $5.99 each I think.
We also have WWII era films like Mary Poppins, Life is Beautiful, Shadowlands and Sound of Music, though the war is just pereferal to the story in those.
A few others thrown in there for good measure, but I'm with you... most of them are in the $9.99 range!
I don't really "GET" the idea of having a DVD library of movies or any other forms of entertainment. Of course I should add that I don't have the type of personality that will allow me to sit through very many movies the first time; let alone do a repeat. That being said, I do own the first and second season of Corner Gas, the "Secret" Coronation Street DVD, (I'm one of those freaky CS male fans.), and I love Blues DVD's such as "The Sound of Thunder". I guess it's all up to the person
The way around the insessant ads and trailers is to burn a copy of the movie (assuming you own a legal copy, under the law it is still legal to make an archival copy for personal use so long as only one is used at a time) using software such as DVDShrink, which will allow you to strip off the coding that prevents you from jumping directly to the menu or the film itself.
Also helps protect from the ravages of the toddler set...
I have an extensive library of dvd's. I love collecting Disney movies, because the grandkids love to watch them, and so do I. Horror movies and comedy are favorites of mine. I also have almost all Johnny Depp's movies, phenomenal actor plus I never get tired of seeing anything he is in. A good B-rated movie is always fun. I usually look through the $5.50 bin at Wal-mart or when they drop the price under 10 on some movies before I will get one. If I really want the movie, and it's a new release, I will go on the day it comes out and buy it, they are sold usually for under $15. When I said extensive, I meant about 200 movies, some I have seen more then once and some I have yet to see. The beauty in owning a movie is I don't have to rent them, I don't have to sit in an uncomfortable theater to watch it, and I can see it whenever I want. I am fickle about my collection, I alphabatize the entire thing, makes it easier to find what I am looking for.
I own one DVD: Orange County. And I've probably watched it 20 times. What a great movie.
Curt, I am surprised that you didn't mention collecting the entire Horatio Hornblower series on DVD?
About once a year, I break it out and watch the series all over again. This one never really gets discounted and is impossible to find in the used bookstores but its worth every penny. Also, I am in the process of collecting the Sharpe series - not as good as the books but I find 18th century riflemen hard to resist. You might try "A Dangerous Beauty" for a gorgeous period piece on Venice, and of course, Master & Commander.
I only own one (or four, depending on how you look at it) DVD. The complete Firefly series. Any Western in Space that isn't too cheesy is more than worth buying--especially if you can snag it at half-price (like I did).
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