Nope, not even close. The bit-rate on a Blu-Ray movie exceeds a downloaded or streamed version by a large margin. This allows for a crisper picture, better colors, less artifacts and color banding in low light scenes. Both may be in 1080p but a much better quality image is to be found on a physical copy. The bitrate for something like xbox live marketplace 1080p is around 6 or 7 mbps. Netflix is closer to 8mbps for their 1080p streams. A Blu-Ray is usually between 25 and 35 mbps. I don't believe that digital versions offer the superior audio either (like DTS-HD master audio.) Don't get me wrong, the movies on digital marketplaces look decent given the size of the files, however "decent" is not good enough if I'm buying the movie. Actually paying money for just a digital copy of a movie is like paying Larry off the street to give you a disc with a theater rip. You may get it early, but you are paying a premium for crap.