It's ok, they weren't in HD, so I would never watch them. No point in having movies that clearly have HD versions in standard definition.
Bluray max bitrate is 54 Mb/s, but I've generally seen transcoding to 20-30 Mb/s have nearly the same quality.
I have (and love) Blu-ray, but as much for the sound as the picture. Blu-rays have incredible audio.