Dvd encryptor removes the copy guard, macrovision etc. It's been a while since I used dvd shrink but last I knew it didn't bypass copy guard so you had to rip it with dvd decryptor or a comparible program first. Are you saying that you are copying directly off the original disk using dvd shrink (and you didn't rip it with dvd decryptor first)?
Fyi on the 40 minute time frame for dvd shrink, there are two parts to that. If you are burning at 4x, the actual burn time should be around 15-16 minutes. The other 25 minutes is for compressing the movie. The original bourne identity is on a pressed dual layer disk that can hold a lot more information than a regular single layer disk (like the one you are probably burning to) so it has to be compressed to fit. How long the compression process takes is dependant on two things. The more information that is on the original, the more it has to be compressed and the longer it takes. Occationally you will run across a movie that is small enough that it does not have to be compressed. Using nero anyway (which works very similarly to dvd shrink), it takes me about 5 minutes to process. a very large movie or a disk that has lots of extras taking up space might take more like 25 minutes. How fast your computer is directlly effects how long this takes.
The other part (burning) is prety much controled by the disks burn speed. A 4x burn will always take around 15 minutes (give or take a little depending on your burner, it varries a little from burner to burner). an 8x burn is always going to be in the ball park of 8 minutes (again it varies from drive to drive).
One additional note since you are using a mad dog (nec 3500). This particular drive can down shift the speed if it detects problems with the burn. An 8x disk will burn in about 8 minutes. A 4x disk that is being burned at 8x will burn in about 8 minutes if it sucessfully burns at 8x. If the drive detects problems burning that 4x disk at 8x, it may down shift the speed and it will take longer. It may have said that it was burning at 8x but was really burning slower.
It's actually more complicated than that (it shifts through diffrent burn speed at diffrent points in the burn) but I dont want to over complicate it.