Usually torrent networks have good quality BD-Rips. I don't know exactly the compression methody they use (because most of my movies are in 1080p) but I assume they have good cost-benefit in terms of size / quality
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They all use handbrake with mostly standard settings.
But yeah they won't have any blu-rays to use as source material in like 10 years.
I hope companties will consider offering drm free downloads one day. It happened with music. It could happen with movies too.
Apple digital movies are absolute shit. They limit the amount of devices you can watch it to like 3 in it's entire life.