I never understood the "waiting" part - that's one of my big dissatisfaction, aside from encryption, with the movie industry. I'm not impatient, but I do not understand to wait as the movie industry will have it.
There are also things that work at a certain time. Now I'm transitioning my collection to high-def. It is a lot of updating work. Historically this will reach a critical point when pretty much all I wanted to have I'll have it and things will slow down considerably since I'll be looking after only some new releases and whatever back catalog that interest me hasn't been released yet. This started let's say in 2006, we're almost 3 years later. This year and next and maybe another one everything should go really fast, really crazy, really getting most of the things I want.
After that I'll slow down and do something else. Go scuba-diving, write a book, fly to the moon, whatever. I am not going to toy around with my collection day in - day out, waiting, working on it, debating, moving from one ripping technique to another, more waiting, etc. It's just a collection, it is meant to serve me. The sooner the better.
Also, there is the psychological fact - oh, I'd like to have them, the movies are out there, but I'm not enjoying them because, well, I'm waiting. With so much computer power and storage around available relatively cheap these days, screw it. Buy 5 or 10 Blu-Ray readers, rip the streams, write some batch files (as an automation at the very least if not something else, better) to remux the streams, done. Then just watch out for the new releases. When not needed anymore sell the players on ebay or whatever.
Needles to say, it's not the money spent on these things, it's the time they expect you to wait (or make everything so much more difficult to force you to wait) that makes me really mad.