Converting HDDVD and BlueRay to a diff format

I have a combo Blue-Ray/HDDVD player and am starting to get some movies. I want to be able to do two things. The first is I would like to be able to downgrade it to a regular movie so I can throw it into a regular player. I just cant get my wife to sit down in front of the computer to watch a movie.

Also I would like to convert them into a file that I can store on my hard drive and play from there without needing the disc. I figure wmv hd or something. FOr that file I would like to keep the HD quality. I use AnyDVD to rip off the copy protection but can not find a program to convert it. Ideally I could find one that did both hddvd and bluray as opposed to using to different programs. I have searched all over and no luck yet. The closest part I found was on doom9 but I could not follow that one.

Any ideas how to do either one of these?