I actually picked up DVDFab BluRay Ripper (with the BluRay Copy and 3D ripper pack) this weekend, since they have a 25% off sale for Thanksgiving. I have an old never-expiring license for the DVD version of DVDFab, and it works great. I've been using the BluRay version all weekend to rip a set of all of the Harry Potter movies.
It has been fantastic. Very easy to use, and very easy to get high-quality rips. You can set it to passthrough, which just rips the BluRay as-is and wraps it in a MKV file, or you can transcode easily. I've been transcoding them using 2-pass H264 set to a high bitrate (13GB target size for the discs). The transcoding is running around 30-35fps on my HTPC, which means it has been finishing the 2.5 hour Harry Potter movies in a little under 4 hours each.
It easily handles including HD audio in the rip, which works well, and MC plays back fine on my system. It does seem mainly focused on preserving the native audio, and doesn't seem to include a BUNCH of options for transcoding the audio, but that's fine with me. I'd always rather have the original source audio. Since I'm ripping these BluRay discs to around 13-14GB files, the source audio is small comparatively anyhow. And, honestly, I haven't looked much. The default was to preserve original, and I left it alone.
It also seamlessly handles the Chapters. They transfer over to the MKV without issue and work perfectly.
The functionality is pretty much identical for the DVD part of the application. So, it isn't free, but there does happen to be a good discount right now through the end of this weekend!