I've noticed that Mac THe Ripper is really slow (or, alternatively, the way OS X reads data from optical media). On my wifes PC, which has an old DVD-RW (2x DVD-R write speed, and I'm guessing about 12-16x read speed... so not any faster or slower than my mini's SD should be) I can rip AND compress a DVD to 4.3gb size in about 18-28 minutes. On my mini, which has about the same speed CPU (1.42ghz G4 vs 2ghz P4) the rip takes about 25-30 minutes, and then the compressing takes about 10-25 minutes depending on the disc sizes in question.
Programs in question are DVDShrink and MacTheRipper/Popcorn. Oh, and FYI, it takes you so long with Handbrake because you are also recompressing the movie into another video codec.