VCL 2.x and MPlayer 1.1 can play encrypted Blu-ray disks thanks to libbluray and libbdplus libraries from VideoLAN.

I've created a free database of AACS keys and and open-source software to keep local KEYDB.cfg files up-to-date.

Local VUK keys saved by libaacs (in %APPDATA%/aacs/vuk folder) are parsed and uploaded to enrich the database.

Updater program page: http://www.labdv.com/aacs/updater.php
Project page: http://www.labdv.com/aacs/

I've initialized the database with 998 keys: KEYDB.cfg

For VLC users:
http://www.labdv.com/aacs/play-encrypted-bluray-with-vlc.php

For MPlayer users:
http://www.labdv.com/aacs/play-encrypted-bluray-with-mplayer.php