The whole genre of DVD copying and conversion tools is filled with apps that live on the edge of what's acceptable in the wake of DMCA regulations in the United States. Digital Media Thoughts recently reviewed, AnyDVD, which seems to deal with making copies of your DVDs in a more efficient manner than some of the free solutions you can find in various video help forums around the Web. I'm not sure what the legal logistics are in terms of making copies of your DVDs using AnyDVD, so proceed with caution, but I'm still in the camp that thinks making copies for personal use only should be legal.
From the Digital Media Thoughts review: "AnyDVD is a real-time DVD decryption tool that works so well, you'd swear it was magic. The developers created a fast, lightweight, highly effective way of allowing you to work with video on commercial DVDs very easily. And beyond decryption, it has a few other tricks."