Apple TV bluray streaming

[Brandon428]

I was planning on getting a Sony bluray disc changer but I'm thinking about trying something else. I'm thinking of getting a bluray external drive for my iMac and ripping the discs to my drive and streaming it to an apple tv then to my denon receiver. The disc changer is 600 I figured I could pay 99 for the ATV,130 for the bluray drive,and then 2-300 for extra storage for the blurays and save some money and in the end I think (if everything works) itll be a better home theater experience. My questions are

Can the ATV stream 1080p, DD True HD and DTS HDMA?

How much space will the average bluray movie take, just the movie with the HD audio track?

What's the best software to use to rip the movies?

[sigma1914]

Oppo BDP-93. I'm a new Oppo fanboy. ;)
If this is for your theater you've been designing, then get a kickass player. It streams, too.

[Brandon428]

I've seen that player before. It is very nice,but I want to be able to store the movies and select from a list what I want to play without having to physically change the disc.