2. 1.3 has several advantages, the most important of which is what is called "deep color" best described here from the HDMI.org webpage:
"With the launch of HDMI version 1.3, HDMI continues to increase its overall functionality to meet the needs of the High-Definition marketplace. HDMI 1.3 will include the following new features:
Higher speed: HDMI 1.3 increases its single-link bandwidth from 165MHz (4.95 gigabits per second) to 340 MHz (10.2 Gbps) to support the demands of future high definition display devices, such as higher resolutions, Deep Color and high frame rates. In addition, built into the HDMI 1.3 specification is the technical foundation that will let future versions of HDMI reach significantly higher speeds.
Deep Color: HDMI 1.3 supports 30-bit, 36-bit and 48-bit (RGB or YCbCr) color depths, up from the 24-bit depths in previous versions of the HDMI specification.
Lets HDTVs and other displays go from million of colors to billions of colors. Eliminates on-screen color banding, for smooth tonal transitions and subtle gradations between colors. Enables increased contrast ratio Can represent many times more shades of gray between black and white At 30-bit pixel depth, a four times improvement would be the minimum, and the typical improvement would be eight times or more. Broader color space: HDMI 1.3 removes all limits on color selection
Next-generation "xvYCC" color space supports 1.8 times as many colors as existing HDTV signals Lets HDTVs display colors more accurately Enables displays with natural, vivid colors "
HDMI 1.3 was only adopted last June, so it will take some time for the products to be designed, manufactured and delivered to the US. I would expect that you will see some product by the end of this summer.