Boy, I wish I was like you! I started ripping my CDs last year into MP3 format and then learned about FLAC and Apple lossless formats. That meant starting all over again, throwing out all the MP3s and once again ripping 35,000 songs into FLAC. Once in FLAC I also converted them into Apple Lossless so they would play in iTunes and on my iPhone.
I started in June on my DVD and TV show collections into MKV format and then encoding with HandBreak. Instead of watching a few to make sure everything was working OK I just converted everything. Well, the movies were OK, but all the TV shows had their menus ripped away by HandBreak. So now I am just wrapping up re-ripping my 100+ TV shows (with multiple years for some of the shows) into the ISO format so I can stil use the menus.
Never say you are almost done because you may just change your mind and start all over again....