What is the simplest/easiest way to edit out clips from a commercial Blu Ray movie and burn the final project to a BD-R without losing much, or any quality? Let's take, for example, the movie Avatar...

Goal - Edit 30 minutes of scenes out of the commercial Avatar's Blu Ray and burn this new shorter project to a BD-R without losing much, or any quality.

Solution (please let me know if this would work, or if an easier solution exists):

1.) Completely rip (BDMV and Certificate folders) the commercial Blu Ray to the computer's hard drive.

2.) Open Sony Vegas Movie Studio HD Platinum 10.0.

3.) Click Project - Properties - Video tab

- Template: Custom (1920x1080, 23.976 fps)
- Field Order: None (progressive scan)
- Width: 1,920
- Height: 1,080
- Pixel Aspect Ratio: 1.0000 (Square)
- Frame Rate: 23.976 (IVTC Film)
- Full-Resolution Rendering Quality: Best
- Deinterlace Method: None
- Adjust Source Media to Better Match Project or Render
Settings: Unchecked

4.) Click Project - Import Media and open the BDMV files.

5.) Make the edit cuts.

6.) Save the project.

7.) Click Tools - Burn Disc - Blu Ray Disc and burn it to a new BD-R disc.

Am I missing any important steps? Are the video settings correct for Blu Ray discs? Will I lose any quality? I can also do the above on Sony Vegas Pro 9.0, would there be any benefits to do so quality wise?

Will Sony Vegas open BDMV files? Are Blu Ray discs broken up into multiple smaller BDMV files? When I burn the final project using Sony Vegas, can I remove the FBI warnings, trailers, extra audio tracks, etc.?

The Avatar Blu Ray in question is seamlessly branched. Do I have the option of just opening one branch of the seamless branching and edit just this one branch? Or will Vegas open the whole entire thing? I only need to edit one branch, is there a program that will allow me to do so?

I apologize for all the questions. I've ordered an LG Blu Ray burner and would like to get at least some of these questions answered before it arrives and I get started.

Thanks for all the help!