I added a Blu-Ray drive to my HTPC this year, but was holding out on buying the expensive software, was using PowerDVD OEM bundled with my Lite-On drive. I just noticed last night that Arcsoft has a %20 off promotion thru the end of the month, so I picked up Total Media 3 Platinum. It is so nice to have it intergated into the Media Center menus, and works great with 7rc. I even spent the extra $10 for the SIM-HD plug in, not that it can't do what ffshow could, but I really think CUDA processing on the GPU is a slick way to go, and a few demos I have seen (one on the Arcsoft website) show impovements, but with real low CPU utilization! Of course you still recieve updates once you buy it, so this plug in could possibly be improved some more in the future. IMO worth $10 just to have something to play around with.
The promotion is on the left side of their website, says something about Graduation discount pffer. When you click that and go to the next page, at the very bottom is the discount code.