Rip DVD to audio CD?

OK, I am new to this and would like to know how to rip the audio track from a DVD concert to an audio format that I can use on my iPod.

I have used DVD Audio Ripper, ripped to a WAV file, then burned a CD, re-ripped in as MP3 and that seems to work fine.

Am I doing it the hard way? Should I just rip straight to MP3 or use a program like Advanced MP3 Converter to convert the WAV to MP3?

Suggestions for other/better programs would be nice also.

you can definitely skip burning the cd and just encode the wav directly to mp3.

I use DVD Audio Extractor to rip the complete audio soundtrack from DVD and then crop them to customise my Windows theme. DVD Audio Extractor will let you rip to a .wav, Ogg/vorbis, Mp3 or you can do a direct stream demux.