I use MakeMKV to make an uncompressed rip of the blu-ray. In order to play this on your tv without audio loss you need to either build/buy a proper htpc or buy a streamer capable of bitstreaming DTS(MA), TrueHD and DDP. I believe some of the new popcorn hour streamers can do this and have decent interfaces for managing your collection. You can put a HD in one of these or hook up an external NAS. Here is a review of one.
http://www.mediasmartserver.net/2011/12/20/review-pch-a300-review/I currently don't have one of these yet but plan on getting that one or something similar. For now I use handbrake to take the MKV and make it into a mp4 which I stream through AppleTV2 to my avr. The visuals are good enough for me and the audio is "ok", but definitely lacks the LFE of the original.
