Yes. it does full dvd only, all you can remove is audio tracks. However, if you run Shrink first and select No Compression and use Re-Author (keeping ALL subtitles), then that way Shrink rips out the main movie for ya, then ReBuilder re-encodes down to a DVDR for ya main movie only.
EDIT: Almost forgot, have a look at using DVDREasy, it reencodes using CCE and does Main movie ONLY, with 1 audio track and up to 1 subtitle track. VERY easy to use.