The file size depends on what option you choose to encode with, its a kind of art to know what's good for the material your ripping.
What to me sounds strange is that blu-ray and hd-dvd can be encoded with MPEG-2, VC-1, and H.264. MPEG-2 is DVD
I wonder how that will work, i can imagine MPEG-2 taking up those disc , but the other two must be using very low compression in order to fill up the discs.
I thought maybe material will be encoded in all 3 formats for compatibility sake. A blu-ray/hd-dvd drive can fit into a computer that's a few years old and should play the MPEG-2 reasonably smooth, the other two there is no chance.