I too made the the Jump to Blue Ray when the Burners got cheap enough => as well as the 25G Media. I've got an HD Video Camera, so there is a need to move some home movies off before it's 120Gig Hard Drive gets full.
As for back-ups of BluRay Movies, that is more of a hobby as the technology doesn't seem to be there right now. I've got AnyDvd HD and played with ClownBD, and for my purposes it worked pretty good. I just want the main movie and a 5.1 surround Track (DTS or Dolby). The only gotcha with this combo is the lack of Menus.
I really expected SlySoft to have this figured by now, but it seems a moving target they can't nail down. Can DVDFab do this yet?
As for Data Back-up, I did burn a couple 25 Gig Verbatim BD-R with all my MP3s on them. We've got a Cabin with a Samsung Home Theater system and it plays these disks without an issue. (A spare Hard Drive can't do this => even though I've got half a dozen.) The Samsung also plays the ClownBD BluRay Movie Backup I made as well, but the Kids want Menus, so I'm waiting for that feature before I jump in backing up the rest of our BluRay movies.
As for the argument the Quality is close to the same, either the viewer is looking at an awfully small screen (less than say 32 inches) from far away, or they are vision impaired. I compared quite a few movies between DVD and BluRay on my 55 inch sets, and frankly it's a no brainer.
The only thing I still move to DVD is my concerts. I've got about 150 Concerts I've bought, and when folks say can I borrow this one, or that one? ; I say no problem, I'll burn you a copy. Other than one Brother, my originals never leave home. I've looked into BluRay concerts, but they are rare and they are typically very expensive to buy.