I've not ever used DVDFab, so long as they update FREQUENTLY you may be fine. AnyDVD-HD updates itself pretty regularly and seldom does a disk stop them for more than a few days after release.
That said - that gets you access to the unencrypted data. The best program for removing the various streams from that is, at the core, eac3to. BD doesn't store all of it's video in just one file and eac3to can handle the multiple parts. Many other programs are front-ends for this including the one I use - meGUI. Handbrake doesn't use eac3to so it may not serve all of your needs. eac3to gives you separate video, audio, chapter, and sub files. Choose your poison to process the video and audio. Audio I leave alone, AC3 audio is seldom more than 500-700megs. DTS can be a gig plus! DTS is uncompressed which explains this and it has more channels. Video can be in several formats but x.264 handles it well, choose your settings and front-end (including HB), and off you go for a few hours more or less depending on what you're using and your hardware. Hint: more cores good, a slower clocked multi-core CPU can stomp a faster fewer core CPU. Intel rules here. GPUs fly but seem to limit encoding options. Once done you need to mux the audio and video together with chapters and subs - that's MKVMerge. Tada, done!
Yeah, more complex than DVD! You could try RipBot264 for a more DVDShrink like experience but I find that program quirky as hell. Doom9 is the place to look for help with these programs BTW.
Now if compression wasn't an issue there's a program out there that just rips right to MKV. The name escapes me but considering file sizes I think it's a bit nutz to use. I've compressed a ton of BD and the resulting files are gigs smaller with no loss of quality I can see....
Forced subs? I've not seen anything handle these well including RipBot etc.