I've spent the past few months working with different tools for backing up my blu ray collection, and settled on a combination of MakeMKV to rip the blu rays to the HD and then Handbrake to convert the MKV to M4V. Handbrake is by far the best video encoding tool, as it allows the most options and works very quickly. I probably average 45-60 minutes per encode of full 1080p blu-ray with passthrough audio and/or dolby digital 5.1 encoded audio (using a core i7-3770). If you need any help on creating the right encode profile, PM me and I can try to create a good one to test on my Surface.