I use DVDLab Pro 1.5, not 2.0, but I don't use it for cutting out sections. I use it for building menus, creating chapter points and putting my mpeg2 files into dvd format. For cuts I use VideoReDo. It seems to handle the "destructive" cuts very well.
VideoReDo has another nifty little tool called Quickstream Fix that comes in handy for video/audio sync problems. That in itself is worth the cost of the program. Of course, you should try out the free demo first.
Most of the time I am working with mpeg2 captures, but I believe VideoReDo can handle vob files also if you set it correctly. In the options you have to check the Combine Sequential Filenames in order to get it to work with an entire dvd. Look through the FAQ's at their website.
I personally don't worry about streamlining---I want a process that works, even if I have to use several different programs to achieve this. So I use specific tools for specific purposes. For example, I have gone over to ImgBurn almost entirely now for burning dvd videos. I use a shell extension to directly burn the Video_TS folder using ImgBurn if I don't have it in an ISO file.