Any thoughts or suggestions for external blu-ray readers?
Readers are about US$60-70 right now. Just get one with a SATA interface and put it in a 5.25" USB2 enclosure with a SATA interface (I have a ByTecc Super Drive enclosure).
it takes a long time to rip a Blu-Ray with an internal drive, I reckon an external drive will take a bit more time...
The bottleneck is the read speed of the drives. The fastest are at 10x or so, thus USB2 will read just as fast as an internal SATA connection in most instances.