Assuming your PC takes a standard SATA drive then it will work fine and will burn as well as write.
Also note that as far as I'm aware you will need special software to play back Bluray discs and this costs money - An example of this would be Cyberlink PowerDVD. Most standard DVD playback software will not work with Bluray discs.
As far as your second question goes - I'd say that optical media is already out of date - With the advent of services like Netflix and Spotify - I can't actually think of the last time I played/bought a DVD or CD and I've already ripped my existing DVDs to a PC to make it easier to access them.
is it possible to stream new movies like the hobbit? i had netflix but all the movies i really wanted to watch like lord of the rings and star wars you had to wait for the DVD to come in the mail. also do they stream in 1080p? (last tiem i checked IE: youtube has the hobbit u gotta pay 10$ and its in 360p :/
also sucks cus places like amazon instant video u gotta pay to buy it - wish you could just pay a few dollars less and watch it one time. which is why i rather just go to the video store and rent a bluray of the hobbit.
also the drives don't come with any software to watch bluray?