Adding Blu-Ray capability: worth it or not?

My ASUS N61JV-X2 notebook PC comes with a double layer 8X Super-Multi DVD and CD optical burner drive. I subscribe to Netflix and I also pay the extra $1.99 USD fee to rent Blu-Ray movies. As a matter of fact, I have a copy of James Cameron's Avatar Blu-Ray movie at my home right now, but I am unable to watch it on my laptop. I am thinking about buying an external double layer Blu-Ray and Super-Multi DVD optical burner drive. The one that I would most likely buy for myself would be the Buffalo Technology BR3D-12U3:

http://www.buffalotech.com/products/optical-drives/mediastation/mediastation-12x-external-usb-30-blu-ray-writer/

http://www.newegg.com/Product/Product.aspx?Item=N82E16827162007

I would also buy a two year subscription to SlySoft's AnyDVD HD:

http://www.slysoft.com/en/anydvdhd.html

My goal is to be able to buy both DVD-Videos and Blu-Ray movies to make backup copies onto my external Western Digital 1.50 TB Caviar Green SATA II hard drive for replay at any time. I already made digital backups of my small collection of DVD-Videos from years ago onto my hard drive using DVD Decrypter.

Is this worth it?

I watch movies on occasion on the weekends when I am not attending classes or working at New Jersey Institute of Technology. I do backup all of my data including my movies onto Mozy Home Unlimited every day.

Does anyone here have the Buffalo Technology BR3D-12U3?

Does anyone here have a Blu-Ray optical burner drive? Do you use it a lot to watch DVD-Videos and Blu-Ray movies? Do you make backup copies of your movies using the optical drive onto a hard drive or other blank optical media? If so, then please tell me how it is going for you. Are there any discussion forums dedicated to this topic?

Please do not turn this thread into a discussion on how to copy movies in an illegal way. Thank you.

My biggest concern about adding Blu-Ray technology to my ASUS N61JV-X2 notebook PC is that my LED screen has a maximum screen resolution of 1366 X 768 pixels. So, the best resolution that I can get from Blu-Ray movies is 720 progressive. DVD-Videos look fine on my laptop though.

I would not be using the Blu-Ray optical disc to watch movies. I would be using it as a device to rip standard and high definition movies for backup purposes. As for the software, I prefer an easy and commercial solution like SlySoft AnyDVD HD. It is a seamless and integrated product that handles many different tasks in one software application. Thank you for the recommendation for the other tools though.

I would like to get more opinions if possible on this topic. I have been thinking about Blu-Ray for a long time, but I have not made up my mind as of yet.

Thank you.

I am also thinking about picking up a Vizio Blu-Ray player with 802.11 B/G/N Wi-Fi capabilities to replace my aging DVD-Video player in my ancient home theater system. However, funds would be first diverted to getting the Buffalo Technology Blu-Ray burner drive first if I go ahead and decide to do this.