Most blu ray videos are in the range of 25-28gb, and more if you include menus and extras.
When you say "rip" you must be including the conversion of the blu ray to some smaller, compressed format. Ripping is usually defined as transferring the data from an optical disc to the hard drive, and this is normally uncompressed.
If you are changing formats, or compressing, you should call it conversion or compression of the video. I realize that some people misuse the term "rip" and even put it in the titles of their programs, but just because the DVDFab people don't know any better, we shouldn't be following their poor example.
Conversion of video is generally dependent on the speed of your cpu, rather than most anything else. One hour 15 minutes is pretty quick when doing this with encoding programs that rely on the cpu. What program are you using?
Intel Quick Sync is extremely fast for conversion, if your computer's cpu is compatible with it. There is one free program that supports it, called MediaCoder. And there are several commercial programs as well. You can read about Quick Sync here: http://www.intel.com/content/www/us/en/architecture-and-technology/quick-sync-video/quick-sync-video-general.html
The quality of output from Quick Sync does not match what can be done with X264, which is a free H264 encoder that is used in many, many free programs, like BD Rebuilder, Handbrake, VidCoder and Ripbot264. You can come reasonably close to the same speeds of Intel's Quick Sync by using X264 in a very fast encoding mode, and still beat Quick Sync for quality (barely).
Besides cpu speed, one other thing that might help marginally is to use two different hard drives. I always rip the main movie to the hard drive uncompressed, then re-encode using a second physical drive as the target. Trying to convert straight from the optical drive will slow things down, and will put a lot of wear and tear on your blu ray drive.
And to answer your last question, rip lock is an intentional slowdown of the drive's reading abilities, built into the firmware of the drive. You can sometimes find modified firmware without this provision, but you might not be able to find one for this blu ray drive.