VLC media player. It will even read Video TS folders should you choose to just rip the whole disc. If VLC can play it, Handbrake can convert it...
Edit: Then again, if space is of no consideration you could just leave all your rips as-is and play all your content in VLC - to each his own I guess...
Edit: Then again, if space is of no consideration you could just leave all your rips as-is and play all your content in VLC - to each his own I guess...