Yes, that is what I do. Even with hard drives as cheap as they have become, it is still not worth it to me to store Blu-rays in their original format, since I rarely watch anything except the main title. If a disc has some really outstanding extras, like a documentary or something, it may be worth having it all archived, but that is subjective and something you can decide for yourself. The thing I hate most are the Previews, which take up tons of space and must be navigated through again and again.
