For completeness, here are the release types commonly found on file sharing sites (torrent included):
DVDRip
Is a copy of a original DVD. The quality is excellent (DVD Quality). DVDRip Quality is ready to download when Original DVD is in the market. DVDrips are released in SVCD and DivX/XviD.
Worth to Download? YES
BRRip / BDRip
Similar to DVD-Rip, only the source is a Blu-ray Disc. A BD/BR Rip in DVD-Rip size often looks better than a same-size DVD rip because encoders have better source material. What is commonly misunderstood among downloaders is that a BDRip and a BRRip is exactly the same. A BDRip comes directly from the Blu-ray source, and BRRip is encoded from a pre-release, usually from a 1080p BDRip from another group. BD Rips are available in DVD-Rip sized releases (commonly 700MB and 1.4GB) encoded in XviD as well as larger DVD5 or DVD9 (often 4.5gb or larger, depending on length and quality) sized releases encoded in x264.
Worth to Download? YES
DVDScr
Or DVD Screener, usually is a copy of a PROMO Dvd. The DVDScr is out before the original DVD is in the market. Video usually comes with water marks in the video, clock counters and legends. Sometimes in some parts of the Movie video turns in black and white. Quality is good.
Worth to Download? YES
R5
Refers to a specific format of DVD released in DVD Region 5, the former Soviet Union, and bootlegged copies of these releases that are distributed on the Internet. In an effort to compete with movie piracy, the movie industry chose to create a new format for DVD releases that could be produced more quickly and less expensively than traditional DVD releases. Quality is good because video is ripped directly from a DVD.
Worth to Download? YES
CAM
A cam is a theater rip usually done with a digital video camera. A mini tripod is sometimes used, but a lot of the time this wont be possible, so the camera may shake. Also seating placement isn't always ideal, and it might be filmed from an angle. Quality is awful.
Worth to Download? NO
TS
Or Telesync, is the same spec as a CAM except it uses an external audio source. A direct audio source does not ensure a good quality audio source, as a lot of background noise can interfere. Quality is awful.
Worth to Download? NO
TC
A telecine machine copies the film digitally from the reels. Sound and picture should be very good, but due to the equipment involved and cost telecines are fairly uncommon. Quality is regular.
Worth to Download? NO
Article sources:
http://EzineArticles.com/1706483
http://en.wikipedia.org/wiki/Pirated_movie_release_types - more types and details available.