As long as the dvds have the trailers and the "feature presentation" + "WARNING THIS IS NOT FOR KIDDIES" things I'm fine. Although, I WOULD prefer they release Grindhouse in one 3 disc box, with both films on their own disc with their additional content, and an extras disc.
I think that would be the best way to do the film justice, because it really is awesome, and putting them on single dvd discs will take away a lot of the charm of seeing it in theaters.
Let's just say this, if you watch Grindhouse on dvd, you will be missing a lot of the fun that we experienced watching it in the theaters.