This is what I do. (to create a Div-X file of any DVD movie (PC)
1. Use DVD decrypter or Ripper to rip the DVD into VOB files.
2. Use Flask MPEG with mp3 audio and Div-X 5.1, to compress the video, on my Athlon 1GHz it take 6-7 hours for a 2 hour movie (hey the Athlon 1GHz was great when I bought it in late 2000)
3. Use Virtual Dub to split the Avi in to sizes that will fit on CD's.
I also have DVD Architect from Sonic Foundry for MPEG 2 incoding, but currently don't have a DVD burner, but it's good for smaller projects, that are less than 700MB when in MPEG 2, since CD's with DVD incoding will still play in household DVD players.