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1.
Something that causes more trouble or problems that the benefits can outweigh.
Blu-ray is just a bag of hurt. It's great to watch the movies, but the licensing of the tech is so complex, we're waiting till things settle down and Blu-ray takes off in the marketplace.
by itsross November 04, 2008
 
2.
Something that is complex and riddled too many issues to be workable. Fraught with uncertainties. A 'do it at your own risk' thing.

Steve Jobs famously called Blu-ray, a bag of hurt when asked if Apple planned to include a Blu-ray drive in their Macs. This was when the HD-DVD vs Blu-ray format-war was still unresolved and there was a lot of uncertainty surrounding the technology
1. AMD processors and Hackintosh? That's a bag of hurt.

2. Internet Explorer and CSS 3? That's a bag of hurt.
by Vulturo September 30, 2009
 
3.
A phrase famously used by Apple's Steve Jobs to describe the difficulties of adding blu-ray support to Macintosh computers, due to the need to build DRM into the Operating System in order to appease the MPAA. He was, possibly, referring to the crippleware reputation of Microsoft's Vista.
“Blu-ray is just a bag of hurt. It’s great to watch the movies, but the licensing of the tech is so complex."
by Eodric November 05, 2008