Is it possible and fairly straightforward? I"ve been switching my collection of BD's over to MKV, and am happy with it, but sometimes I need it in an ISO container for burning, correct?
Depends on what you're burning it for. Data Disk? You just need to copy it to an appropriately sized disk. ImgBurn will do that directly. DVD for a standalone player? You need to 'author' it. AVS to DVD is good for that. Stand alone BluRay player? That needs authoring too. I don't have a BluRay player so I don't know what to use for that. ImgBurn can also be used to directly create an ISO but as I said if your goal is a stand alone disk player the video needs to be authored.
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