I have a quick couple of questions if you wouldn't mind

Q1: When you first run makemkv it dumps to a 40gb(ish) backup folder with lots of random bits and pieces - this is an uncompressed full copy of the blu ray, all titles, menus, audio, the lot?
Q2: Later on, I opened the index file from makemkv and selected the title and audio I wanted, click 'make' and then a 15gb mkv - this is a compressed(?) but lossless copy?
I am used to audio and have built a library now of flac files etc, so I like the fact that flac is lossless but still sports some compression. I am now essentially trying to achive the same thing with my blu-ray and dvd's.
So if using makemkv is effectively generating me my lossless flac, then great.

Many Thanks,
Rich.