I had this problem and a similar one while hooking up my wii. My solution was similar for both. For the blu ray, though, I did follow the advice of others I saw on forums and changed my network name to just one word. But, I made sure I made the change in my Airport Admin Utility. Then I used the hex equivalent password and everything is working great. Here's what I did:
Open Airport Admin Utility...I just used the Finder to locate it on my harddrive
Click on the base station listed. Mine is title "home"
Under the "Airport" tab I changed my network name to one word. When I saved it, a pop up came up that said it was resetting my base station. Once that was done my network, under it's new name, showed up on the blu ray set up with a strong signal.
Then I clicked the "Password" menu in the Airport Admin Utility and used the hex equivalent password instead of my regular computer administration password that I made up.
Now everything is great. Netflix, Pandora, etc. Good luck!