Nothing is ever 100 percent copy proof. With blue rays coming out their will soon be blue ray burners etc. New technologies are always popping up and a way to crack a blue ray code in order to copy it is no exception. Just wait a couple of years and it will be as easy as copying a CDR+
At some point Blu-ray will be dead also as thin plastic discs will become too big and floppy just like floppy discs.
As for copy protection, probably, but not in the near future. There will be undoubtedly a program that can read the encoded material just like DVD's now.