wellygary:trig42: Will Handbrake do it? I know it will do it from Video_TS folders.
You will need something to strip the copy protection - I think AnyDVD is still the best.
Handbrake will not do BluRay, and by itself will not do commercial DVDs as a stand alone (They removed libdvdcss) - although this can be re-enabled by installing VLC.
I use a combination of MakeMVK, Handbrake and Ripit on OSX to maintain my MP4 library,
to the OP be warned you are gonna get some whoppingly large files with Blueray MVKs ( 20-30 GB easy)
Handbrake can encode Blu-ray (HD) video streams.