For movies that simply aren't available in Blu-Ray and the latest, best version of them is on DVD, that all sounds great of course. But if it's a more-common movie that came out on Blu-Ray, you can probably get a rip of that online quite easily.

Also, the parent seemed to be talking about simply popping a DVD into a drive and watching that directly. What you're talking about sounds very interesting, but also a fair amount of work and compute time. I've never used Handbrake, but I would assume the ripping and transcoding process would take a fair amount of time.