Just extract all of the DVD using mactheripper to get the video_ts folder without the encryption on it. Once you get that folder you can go ahead and remove the dvd. The next step just depends on the size of the DVD. I use toast and all you do is click the copy tab, and then click dvd-video from video_ts. Now you can click burn from here and it will ask if its a single layer disk or a dual layer disc. You select single layer since thats what you want and now this will/should create an exact replica of your original dvd with the menu structure and everything, it will just reduce the quality a little bit to fit it on your dvd.
Option 2 in toast is you select the copy tab, dvd-video from video_ts, import your video ts folder in the big white area. Then once you see your video_ts folder there, you should be able to click underneath for "copy options". There you can choose whether you want the whole dvd with the menus or just the featured movie without the menus.
As far as other programs that can compress the file size, I only know off the top of my head popcorn and toast (both roxio).