You should use the built-in ripper within AnyDVD HD to rip your blu ray movies SubZero. I normally rip as an ISO and mount it in Slysoft's VirtualClone Drive if I need to work with it, but you can rip as files also.
MakeMKV is another tool for ripping blu ray, and can do its own decryption. It is free while in beta, and seems to stay in beta perpetually. You can download new beta keys from their forum in this thread: http://www.makemkv.com/forum2/viewtopic.php?f=5&t=1053
MakeMKV can rip the entire disk, or can make an mkv file from the main movie. MakeMKV also works for dvds to make mkv files. It doesn't seem to get updated as quickly as AnyDVD however, and MakeMKV doesn't compress to smaller sizes.
If you want other suggestions for working with blu ray, I know of some, but that is a little different subject than ripping from the disk to the hard drive.
By the way, Dr. Who, ClownBD doesn't compress Blu ray, just lets you select certain sections. It can convert to dvd-video, but only though the command line.