There are several things that I do with my collection of DVDs... and some with BRs.
I rip the entire DVD to VOB files, and that takes 4.5GB of space per... now, those that do not rip at 100% quality compression, do lose some of the picture quality.. particularly films such as LOTR, at or above the 2hr mark.. and even some movies that CloneDVD just doesn't allow for 100% due to, what I am guessing, is file structure? I have seen DVD movies at or about 1hr, 30min, 45min.. that show 100%, and others that show around 88 to 95%... same movie time length.
Now.. from there, I use those VOB files to create back up disks to be shown in the stand alone players.
From there, I also create mp4 files in two different sizes... standard 720 format, and 480 format for smart phones, tablets.. etc. 720 typically weigh in around 800MB, to just over 1GB. 480, from 500MB, to just around 800 or so.. give or take.
Now.. BR, on the other hand.. I've converted those to about 32GB... now, having said that.. they can also be compressed do to a measly 2GB for those keeping them for viewing using your computer, with very little visual quality loss.. .in the MKV format. I have several of those, in 1080p.. from 1.8GB, to around 2.2. I know it takes considerable amount of bandwidth, but for anyone who chooses to use cloud storage for their files, 2GB is way easier to upload, then 32!
So.. there are formats for viewing purposes only that do not take up that much space on drives.. keep in mind, viewing on computers.. the larger the screen, the more you may run into visual issues.
I have even converted BR from 32, down to 2GB with MKV.. and then converted to DVD at 4.5, for watching on TV.. just to see if it would work... works fine, I am not doing that on a regular basis mind you, but I got bored.
Enjoy!