Laserdisc
Laserdisc has better than VHS picture, but not as good as DVD. American NTSC Laserdisc can store stereo, Dolby Pro-Logic, Dolby Digital, DTS sound formats.
PAL Laserdiscs can store stereo, Dolby Pro-Logic sound formats (due to less space, taken up by PAL's extra 100 picture lines)
Laserdiscs are a cross between a 12 LP, and a CD. There are two sides with LD. Some Laserdisc players (Pioneer 925) have a motorized flip laser assembly, so you don't need to eject the disc, flip it and close the drawer. Even if you see a Laserdisc player going cheap for £100 or less, it's not worth buying one, as it's more or less dead now.
The only reason to buy a LD player is if you can get a hold of Star Wars Trilogy THX on LD perhaps signed by Lucas or the cast, or if you have a large collection already, and your player has just blown up.