Copying DVDs and Blu-rays is easy. We know it. The Studios know it. Everybody knows it.
Pop a disc into your PC's drive, rip an ISO with AnyDVD HD and you can have a perfect 1:1 copy on a blank DL disc or you can mount the ISO on a virtual drive and watch it straight off of the hard drive.
Run that ISO through a compression program and you can remove warnings, trailers and extra features, shrink the whole thing down to fit on a single layer disc or just take up less hard drive space.
Personally, I like the idea of keeping all of the extra features and retaining 100% of the original quality. I'd be perfectly fine with the straight ISO versions as they are fast to rip, super easy to burn and 100% identical to the original. They'd take up a little more space, but I'd save processing time.
So here's my point:
I actually WANT to pay for the movies. I think the people making the content deserve to be paid for their work. But the retail prices for discs are absurd and I would feel like an absolute sucker if I ever paid full retail.
Rent/Rip/Return costs money - but it costs a whole lot less than buying a retail disc. And the studios make a whole lot less money if people Rent/Rip/Return.
So I propose a middle ground:
Work it out and to Rent/Rip/Return a DVD winds up costing you around $3 when you total up the rental price, hard drive cost, maybe a blank DVD-R, etc. Blu-ray costs around $6.50. So I say, just make the retail prices $4-$5 for DVDs and $8 for Blu-rays. I can guarantee that at those prices, I would just buy any movies (or TV shows) that I wanted rather than Rent/Rip/Return.
I already avoid downloads because they almost always have all the extra features stripped out and they are almost always re-compressed. I don't enjoy searching for movies on bittorrent sites, I don't enjoy the odd mislabelled file, and I don't enjoy the reduced quality.
So that's my take - what's yours?