Here's an excerpt from a very knowledgeable guy on KODI:
'[The "I want a good cheap box that can properly play my 2D Blu Ray and DVD rips on my TV via Kodi." Category]
The Pi 2 is winner in this category. When you purchase the codecs it can play any Blu Ray rip you throw at it, and it provides a great value by de-interlacing old DVDs really well. The Pi 2 can give you proper 24p support unlike almost any Android box and it can run the interface well for a modest library.
I give the Pi 2 my full endorsement for playing ripped media properly.
The only restrictions otherwise compared to a Chromebox are it can't run every plugin, it won't run every skin as well, it doesn't have the power to decode really any HEVC and maybe some Hi10p stuff, and it can't bitstream HD audio (that is the big one). Oh and I personally wouldn't use it for 1080i live TV unless I really couldn't afford a Chromebox.
But for the price the Pi 2 really is the only thing I feel safe saying can just take on a hard drive of random Blu Rays. I am kinda picky and I would take a Pi 2 over any Android box any day on a primary viewing station. Anyone near its price doesn't get the support the Pi does, plus Android is a second-class HTPC OS currently. There are better Android devices than a Pi 2, but honestly if you are spending more on a Pi 2 then a Chromebox is probably what you should be buying.
One limit of both the Pi 2 and the Chromebox is lack of ten foot Netflix support. I don't think that is a big deal, but some people want just one box for everything even if that means sacrificing a Pi 2 level Kodi experience. That is the next category."
You can read more from here:
Pick the Right Kodi Box (UPDATED FEB 2015)