Best software and format for Serviio.

I have just recently discovered this software and it looks very promising.

The question i have is, what do you guys and gals think is the best software
to use to rip my movies with? And also what is the best format to rip them
to?

Would like the best resolution and sound quality.. And maybe even remove
all the other crap and leave just the movie.

I would be ripping standard dvds and blu-rays...
Can play serviio through my sony blu-ray player (preferred) or through my PS3..
Or could also play through my Direct TV dvr's...

Basically im going to store all my movies on my computer... Size of the movies
after ripping is not a problem. I just would like the best quality.. I can always add
additional drives for storage as needed.

Thanks for everyones help as I do realise this is a noob question.

[Illico]

I would say the bluray rip format BDAV:
MPEG2TS with AVC/h264 (HL@4.1) video codec and AC3-6 Channels Audio (video bitrate should never be over 20Mbps)

[WildRushSykes]

Another format to consider is 720p or 1080p Xvid HD with AC3 5.1 Surround at 448kbps or 640kbps depending on what formats your surround system can support. 98% of my movies are in XVIDHD format as the format plays natively on a fair number of players including PS3 and Xbox 360 whereas x264 and H264 need to be transcoded or remuxed which i dont like also an x264 1080p can easily go over 10GB in size whereas the 1080p XVIDHD equivelant could be as low as 4GB. Something to consider if your lacking in space