Blu-ray is the only way to go if you want picture and audio quality.
Even with something like Vudu HDX, where the picture quality is frankly amazing for streaming, you get a shitty lossy sub-300Kbps Dolby Digital+ track. With Blu-ray, you get lossless audio tracks. There is truly no comparison, unless you're speaker system is integrated into the TV or using a sound bar.
That's why Blu-ray exists, and I still prefer it.
I'll utilize streaming for shows and movies where I don't mind losing detail, but it will never, and can never, replace the full Blu-ray experience for the content where I want to have it all.
We have a very, very long ways to go before our backbone network in the U.S. can truly handle dishing out BD-quality streams. And it'll be a while after that before even a single provider actually offers a lossless audio stream to complement whatever video encoding and compression method they use.
Y'all who are having Blu-ray Player problems need to reevaluate your purchasing decisions - you buying some cheap Magnavox, RCA or JVC player? You get what you pay for, seriously.
Even today, when Blu-ray players are quite affordable, actually more so now than ever, I highly stress looking into professional reviews to see which players are getting praise. It often means looking at models with MSRP above $100, though you can usually find them on sale for less.
I also stuck by my launch PS3 as a BD player, seriously, since launch until this past September. I was starting to get afraid I'd kill the PS3 eventually, but more importantly, it had limitations with Blu-ray, especially 3D, compared to the modern players or later model PS3s.
Also, for you greenies, using the PS3 as a BD player is actually more expensive in the long run. She's a power hog, especially the earlier gens. Even with a movie, I'm fairly certain the old PS3s still climbed over 100w, if not 200w, while playing video content. Modern BD players will sip on 10w or thereabouts during playback. Also the reason I went with a Roku 3 instead of using the PS3 for streaming, like I had for awhile: high wattage v. 5w? Pretty easy choice there.
For heavy streamers, you owe it to yourself. Even with cheap electric rates, it adds up fast.