Ripped DVD in iTunes

[Oneness]

I have my DVD collection ripped to my external drive in DVD format. This is fine but it does tend to take up a lot of room. Also, I use distantDVD as a barebones organizer/launcher. It's fine for what it does but it's no iTunes - I like a well organized folder. So, two questions:
a) If I decide to use Handbrake and convert my movies to an iTunes
friendly format what settings should I use if my primary means of
watching will be thru a TV and not an iPod or iPhone. And also will
this save me much storage space?
b) Outside of iTunes what do ya'll use to organize your movies?

thanks.

 

[liketom]

if you rock with a Apple TV then use that setting - h.264 5.1 AAC ect

or i tend to use the iPod Touch/iPhone setting as i have a Vid cable for mine and it's quick and easy

 

[Brutus Rex]

DVD organization

What programs do you guys recommend to launch/organize movies in DVD format? Or should I transcode them to be itunes compatible. Do I lose much in terms of quallity?