The first thing you’ll need to break encryption on the Blu Ray disks is AnyDVD HD. It is the only program that is effective with blu ray, and even it cannot handle the very newest version of BD+. Go to the Slysoft forums and see the list of movies that will not rip correctly…it isn’t too long at the moment, and Slysoft expects this particular version to be fixed in February.
By the way, AnyDVD HD comes with free lifetime updates at the moment, but that changes on Jan 1, 2009. After that there will be periodic fees for updates. Anyone with a valid license before the 1st, will be grandfathered in, with free updates.
I haven’t tried streaming blu ray…so can’t help you there. Someone else wlll probably chip in something for you.