Depends on the plugins you have. I use the 504 profile to make H264+MP3 conversions.
If you have the Cinema plugin you can use just about any of the audiocopy profiles or VOB Passthrough. I do mine at 480x270, you would want to use an ouput size closer to the 705 screen (800x480?). Set the video bitrate slider high enough to keep the bits/pixel reading above 0.2, and more is better. Experiment by making conversion of just single chapters until you find the settings that work well for you.