I don't know about trashing it... The unit still works as intended but, now that Toshiba has announced that it will not be making any more players, the format will almost certainly wither and die.
That being said, we are going to see some bargain basement prices on leftover hardware and media. I know that Tiger Direct has a sale on for the HD-A3 that includes 7 movies for the price of a basic upconvertor model at $89.99. Titles are still being released and those already out, especially the DVD/HDDVD combo discs, may turn out to be good buys after deep discounts are offered.
The other option is sell/e-bay/trade-in and recover what you can from the deal.
Personally, I'm none too pleased about Sony's long history of exclusionary attitudes and proprietary products. Thankfully, most of them have been market failures but, in this case, they drummed up or bought up too much support for the other side to counter.
For the time being, I'll continue to enjoy the Ultimate Matrix collection and the other titles that I purchased on HDDVD. On the brighter side, maybe we can now look forward to having firm release dates for the LOTR trilogy and the complete StarWars saga in HD!