http://www.dvdfab.com/free.htm
hi
honestly i don't know if your current hardware/software combination does the job you want. but here's what I overheard some guy at the pub saying he does with his DVDs:
1) grab DVD, put it on computer drive, use DVDFab Decrypter to rip the contents to a ISO file. this removes region encoding and optionally allows to choose whether to copy trailers, copyright infringement warnings, etc..
2a) he burns the new, unprotected, ISO to a DVD-R and watches it in the living room or wherever he wants with no concerns about DVD player compatibility, region coding, children breaking the original DVD, etc.
2b) he keeps the ISO file in the computer so he can use a sort of a media centre to manage all the stuff he has, like MP3, films, short clips from youtube, etc.
In theory, this doesn't hurt anyone while it certainly adds convenience to managing a collection of films on DVD. however, DVDs are protected by an encryption scheme that is meant to prevent illegal copying. in many countries, removing such copy protections (which DVD Fab Decrypter does) is illegal. so, this operation is illegal, although nobody would never be able to detect or be damaged by it. strange, huh?