shrink is also a transcoder!!!!!!!!
granted, it has deep analysis and other advanced features that most transcoders do not have, but it is nowhere near an encoder.
it does take longer IF you have these features enabled, but disabling these features will shorten the rip/burn time. It will also affect the output quality though.
transcoding is always a time saver whereas encoding takes a lot of time but has great quality to show for it.
dvd shrink is still a transcoder, but it takes a little longer and applies advanced quality features.