From cdrinfo.com:

Slysoft Inc released a new version of its AnyDVD software, which is claimed to bypass the 4th generation HD DVD and Blu-Ray copy protection (MKB v4), found in latest high-def movie releases.

The latest build is capable to process the Blu-Ray movies which include the 4th generation media key block (MKB), according to Slysoft. The MKB v4 was recently released by the AACS LA and it is an updated version of the special code placed on the Blu-ray media that is essential for the authentication and thus the reproduction of Blu-ray movies on updated Blu-Ray players. Movies that feature the new MKB keys include the U.S. versions of the "Transformers" HD DVD, and "Spiderman 1-3" Blu-ray. Slysoft said that it would support all MKBv4 discs in a future release of the software.

"SlySoft was recently honored by AACS-LA, being declared as public enemy number one in the ongoing battle for copyright protection. To prove them right and to take on the challenge, SlySoft has just released the latest AnyDVD version which beats the latest 4th generation HD-DVD and Blu-Ray copy protection MKBv4, which was expected to be unbreakable," the company said in a statement.

Slysoft also said that it is ready to defeat the upcoming BD+ feature of the Blu-ray titles.
"All that AACS-LA has to offer now is BD+, but even that is on the verge of being circumvented and a release is expected by the end of this year," said Slysoft.