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There are plenty of DVD copiers and rippers that are great, but expensive. DVD Shrink, on the other hand, is great and, well, FREE! This freeware application is a collecting tool used to copy, archive, and store all your favorite DVD movies and films, including those annoying encrypted ones. Although the legality of using such a software is not concrete, the distribution of it has some definite legal issues. The creators of DVD Shrink must spread their program through downloading portals from other countries

Quotes From Official Page:

“DVD Shrink is software to backup DVD discs. You can use this software in conjunction with DVD burning software of your choice, to make a backup copy of any DVD video disc.”
…
“Most DVDs are designed to prevent you from making copies.

The first preventative measure is encryption. Commercial DVD titles are often encrypted, which prevents you from either copying them to your hard drive, or if you manage to do so, being able to play the resulting files. DVD Shrink overcomes this problem with built-in decryption algorithms.

The next problem is not so easy. Most DVD video titles are simply too large to fit, without modification, onto a single recordable DVD-R disk. DVD Shrink overcomes this problem by compressing or “shrinking” the data from your original DVD.

DVD Shrink also allows you to re-author your DVD. You can make your own compilation from one or more source DVDs, or select only the parts of a DVD which you intend to view, thus preserving more space on your backup for the highest quality viewing.

Last but not least, why use DVD Shrink? Because DVD Shrink is free!”

For Windows 9x/2000/XP
Official Site: DVDShrink.org [DVD Shrink]
Download Links:
[Softpedia]
[afterdawn.com]