How to watch BluRay movie on HDTV with an internal BluRay drive on PC?

I'm thinking about building a computer, and I was considering adding a BluRay drive in it as it's a lot cheaper than a standalone player for a HDTV.

Is there a way to just read the BluRay disc from my PC's drive and view it on a HDTV? Would there be a loss of quality? (Which would defeat the purpose of getting BluRay)

On a separate note, what do I need to capture HD quality shows off my TV and storing them onto my PC? And could I then view movies on my PC on my HDTV? (Sorta the stuff I think I remember teachers using in school, but higher quality)

Thanks a ton in advance guys.

P.S. I may be getting this video card, if it makes any difference whatsoever.
http://www.newegg.com/Product/Prod [...] bnx8800gts

So to view stuff off of my PC, I can just connect my HDTV to my PC instead of the monitor?

You can do it no problem and without signal loss. You just have to make sure that your hardware is HDCP compliant or else it will not work. As for software, most Blu-ray drives come with Powerdvd.

trying to figure out if i need a tuner card. comcast tells me i need to get another cable box and then a second cable box to go with that to get their hd content.

what do i need to tuner card for if i can get all of the local and cable hd content through the comcast boxes?

thanks.