The first thing I do when I buy a DVD is rip it to my video server. I have a 10TB RAID and I don't even try to compress the disks, just copy them over in video_ts format using DVDfab6. I run SageTV on the server with the absolutely essential SageMC mod. I then can watch the video at every TV that has a Sage HD200 box. The whole system works for Bluray as well.
I built the system to try to duplicate a $60,000+ Kaleidoscape system for less than $2000, and the functionality, with some tweaking, comes pretty dang close. The real work was the drudgery for ripping hundreds of DVD's, but I had already performed this death march with a much larger CD collection so I knew what I was getting into. SageTV, by the way, is very rewarding if you want to get your hands dirty messing around in the innards but it is not for those who want plug and play.
Anyway, one of the reasons I did all this, beyond the coolness factor, was this. I can rip just the main movie out of the DVD, leaving behind menus, trailers, FBI warmings, special features, etc.