First you have to rip it, then encode it, usually using DivX. Its not the easiest process in the world--lots of things can go wrong. But, once you get the hang of it, it isnt too bad.
Like cliche said, Doom9 is an excellent resource.
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"Good people do not need laws to tell them to act responsibly, while bad people will find a way around the laws."
--Plato
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