to see if your mac has a Blu-Ray burner, go to the system profiler and check your "disc burning" hardware settings. Check for "BD-Write" capabilities.
One possible basic workflow is as follows: export a same as source quicktime, compress in compressor for Blue-Ray, use Adobe Encore to create an ISO out of your compressed audio and video, and finally burn the disc in Toast.
P.S. I should mention that my above post is very general...there are several "gotchyas" and specific specs that you'll need to work out in Compressor, Encore AND Toast...but it depends on your specific setup, and I just can't write it all out right now ;)