My advice is to use DVDFab only as a decryption/ripping program. Don't use their misnamed Blu ray "Ripper" section for anything.
The free section, called DVDFab HD Decrypter is the only part of their program that I recommend to anyone for any purpose. Use it to get the blu ray on the hard drive with no change in the quality. Doing it this way, it is just a straight transfer of the data, minus the encryption. If you happen to own the Blu ray Copy section, then you could use this instead, and it will be updated faster than the free section.
MakeMKV can also rip the entire blu ray structure to the hard drive. It has decryption capability. To get the whole movie on the hard drive, use the Backup mode. MakeMKV may not be updated as quickly as Fab though.
Once on the hard drive you can use any number of good programs to convert to mkv, or compress to smaller sized blu ray structure. Almost all of them use the X264 encoder.
To go to mkv or mp4, I'd suggest using VidCoder or Handbrake.
To go to a smaller sized blu ray structure, use BD Rebuilder. BD Rebuilder can also output to mkv or mp4, but it is a bit less straightforward in use.
All three of these programs are free to download and use.