I guess it's only fitting that I post this…
My Neighbour Totoro was released on blu-ray in Aust and UK last month. The UK version has both blu-ray and DVD, whilst Aust version is blu-ray only. UK and Australia share the same blu-ray region. Zavvi and TheHut have the same price. The Australian edition is over $30. The Japanese version (region free) has been out for a while but at a whopping USD87.
Since it's a new release, the price will most likely drop if you can wait. Note that Zavvi and TheHut both say that it will take up to one week to dispatch, so there is no guarantee that it will arrive in time for Christmas. If you don't mind spending a little more at £18.57 (~28.55), Amazon UK has it in stock and I usually get things within 1.5-2 weeks with them.
Product details taken from blu-raydefinition.com:
Aspect Ratio: 1.85:1
Video Codec: AVC/MPEG-4
Resolution: 1080p/24 (23.976Hz)
Audio Codec: Japanese & English LPCM 2.0 Stereo (48kHz/16-bit)
Subtitles: English
Subtitles Color: Yellow
Region: B (Region-Locked)
Certification: U
Run Time: 86 Mins.
Discs: 2 (1 x Blu-ray + 1 x DVD)
Studio: StudioCanal
Blu-ray Release Date: November 12, 2012
Dont get it in dubbed format! Watch it in subs with Japanese audio!
I have the original Japanese version which I got from cdjapan.co.jp $90 but worth it imo.
Studio Ghibli rocks!
Get Grave of the fireflies too! :(~~