I followed the guided posted by Chickenman on "How to Backup your DVD to VCD (with TMPGEnc)". Actually, I already had the video converted to .avi so I really only needed to do the conversion from .avi to .mpg per the tutorial's Step 4.
The conversion appeared to work great. The video quality was very nice; however, it only converted about the first minute of sound. After that, the sound goes completely dead while the video plays fine.