You do know Ars has already done a direct comparison, right?
http://arstechnica.com/apple/2012/03/the-ars-itunes-1080p-vs-blu-ray-shootout/
Considering how big those pictures were blown up, you'd need a big display to tell the difference.
Good commentary on the comparison too. Even has nice direct comparison screenshots.
http://arstechnica.com/civis/viewtopic.php?f=2&t=1169565
Like the Ars article notes, the only reason I ever buy Bluray is when I want the surround sound. If you don't have surround sound, what's the point?
BRD is a drm'd format anyway. It's not like you've bought a disk that will even necessarily play forever...
I'm aware of the comparison that Ars did. There is a very noticeable difference with all the films I've looked at so far, on my 30" ACD. Maybe with some newer, digitally shot films the difference would be harder to notice.
Also, there will always be a way to play Blu-Ray discs. The data is on the disc. I don't expect Macgo's Blu-Ray Player to be my solution forever, but there will always be a solution because there are always talented people out there who care enough.
If down the road there is no software solution to play them live, there will at least be a software that can rip the films uncompressed into video files.. and by that point hard drives will be large enough that I'll be able to rip the whole collection in full quality, and essentially have better quality versions of the 1080p iTunes downloads that people would have been buying while I was buying the physical discs.