“Will the Xbox One play blue-ray movies?”
The Xbox One does have a Blu-ray player built-in and will playback your collection of Blu-ray movies. Unfortunately the Xbox One currently (at launch) does not support 3D blu-ray movies. Microsoft could add 3D functionality for blu-ray movies in a future software update but no date has been confirmed.
The Xbox One is the first Xbox to have a built in Blu-ray player when it launches on November 22.
UPDATE: The Xbox One now supports 3D Blu-ray movies as well as regular Blu-ray discs.