You'll have to handle it with kid gloves. Any superficial damage could render it useless.
So disc as they are right now? Remember when CD's were coming out and they said they were going to be "indestructible"? Rofl
I nearly lost a DVD full of pictures because of a tiny scratch. It takes a much smaller scratch to destroy a Blu-Ray so I imagine these things will stop working if someone blows on it.
It's important to note that Blu-Ray discs are coated with this anti-scratch stuff called Durabis (or other similar proprietary solutions) that makes them much more scratch resistant than CD's or cheap DVD's. I've accidentally scratched some DVDs in my time (or had my PS1 and PS2 scratch them for me), but I've never scratched a Blu-Ray.
Maybe the PS3 is better at handling discs. Maybe I've become less retarded. All I know is that the stuff works.