We frequently get asked by faculty about getting clips from DVDs to use in their classes. For most of them, it just too much hassle. With the release of VLC 1.0 (available at videolan.org), it is now as easy as clicking a button.
I could spend all day discussing the ethical and Fair Use issues that arise from this, but to save time, I will just cover the technical part.
First, if you haven't already, download the new version of VLC. To enable recording, in the menu bar select View -> Advanced Controls. Click the record button to start saving the video, and when you have reached the end of the clip, click the record button again to stop. The video clip will be saved in MPEG format within your Documents folder.
For illustrated instructions, please visit the How-To Geek for the instructions of How To Copy a DVD with VLC 1.0.
This, sadly, does not work with the OS X version of VLC. :-(