This is the newest external Blu-ray burner and HD DVD reader from LG. In the US, it retails for $430 but I’m not sure about the availability in the UK.
Most LG drives are highly rated especially the blu-ray/hd dvd drives. But you will need a faster computer since this is an external drive.
DVDFab cannot rip a blu-ray disc directly but there are some blu-ray disc from Fox studio with “Digital copy” feature on a separate disc (usually Disc 1 is Blu-ray, Disc 2 is DVD with Digital Copy). Depending on the length of the movie, you can transfer various digital copy versions, smaller resolution for portable device will be around 400-500 MB, higher resolution can be around 1GB.