The image on the left is a DVD rip (this is where a DVD movie is compressed and stored in a movie file on a computer), the middle image is a Blu-ray rip that's been converted to work with iTunes / iPod's (this has no compression, but it has been "encoded", meaning the original video / audio source has been altered), and the right image is a Blu-ray rip that's in an MKV container (this also has no compression, but it has not undergone the level of encoding that the iTunes version has).
Can you guys notice a difference? (click the image for a larger version)

I think I found my new movie love ;)