Playing Blu-ray disks in Ubuntu

[Office]

Hey Guys,
I'm thinking of upgrading the DVD drive in my home theater PC running 
Mythbuntu to a Blu-ray drive. After doing some research on the web, I've been 
seeing a broad spectrum of many ways to get it to work. I've gathered that the 
encryption on Blu-ray makes it harder to decode than DVD. I've seen anything 
from "Why bother with it? just rip the disk and stream it to your home 
theater" to "just install VLC and you're good to go". Anyone get this to work? 
Any help would be appreciated. I'm sure it can't be too hard also considering 
Blu-ray has been around long enough.
Thanks!
~Andrew C.