I also have an issue with video quality. It may very well be psychological, but, from my own perspective, that does not chage much: I do not want to decrease quality in favour of disk space. I feel that if I buy a DVD or a BD, then I do because I want that level of video and audio quality, and the extra feautres as well. Decreasing quality, or getting rid of the extra feature, is just not appealing to me.
Definitely, I am not saying it is "wrong" to transcode or strip out what is unneeded, in any way. Actually, it is quite logical in many cases.
I just happen do dislike the idea to the point I find the whole effort way unappealing unless I manage to get ALL on HDD.
Which means, in my case, that I do prefer to wait when storage space is more and cheaper/MB.
In fact, I ripped my entire audio collection into 320kbps, no filter, top quality MP3s just to be as close as I can to the original, for that same reason. If I did not find FLAC just as unpractical as to get the original CD (I have no portable player that plays FLAC, for example), I'd go flac and re-rip everything. And I may end up doing so at some point in time.

So, silly as it can be, or irrational, I need to have all on HDD. I am actually sorry it is not yet practical to have a PDF or some other media to replicate the booklet that I can store next to my MP3s...