Discs to Digital - How?

[koberulz]

I've seen a few people on here mention buying discs, but ripping them and running their collection of a hard drive. I'm curious as to how this works.

I would assume the easiest way for standard Blu would be to simply copy across the M2TS file for the main feature, but this doesn't work if there are multiple cuts or with DVDs.

Storage seems like a huge issue. BDs are big, and some collections here number in the thousands. Where do you get that much storage? Do you have to swap out hard drives constantly, and doesn't that defeat the purpose?

How do you sort your collection? How do you browse it? How do you get it from the drive to the TV?