muslix64 is back again. This time he's released a new utility to back up your Blu-ray movies. Using a disc's CPS Unit Key, BackupBluRay will decrypt and copy a Blu-ray movie to your hard drive. As muslix64 is quick to point out, BackupBluRay is an alpha release and does have some limitations:
Known limitations:

Don't support BD+
Don't support Volume unique key
Only support one CPS unit key per disc
I don't clear the HDMV_copy_control_descriptor in the stream
Don't have any FAQ or document so far...

You have to provide your own CPS unit key.

The playback seems to work with VideoLan
CPS Unit Keys for a number of titles have already been posted and BackupBluRay reportedly works. If you'd like to check it out, BackupBluRay can be downloaded here. Otherwise more information can be found in the doom9 forums. Thanks to WesleyTech for pointing out this news.