I use DVD2AVI to make a .d2v file, then AVISynth with "MPEG2Source" to import that. I resize the video to a width of 512x x/x AR. I extract the AC3/DTS audio to 2ch WAV using foobar2000, normalising to -18DB with GoldWave, and then encode to ABR MP3 with LAMEEnc. I then use the Nic's MiniCalc to calculate the bitrate. The I encode using VirtualDubMod to XviD using 2 pass. If it is a bigger CD I encode fully, and then open again with VirtualDubMod and split using the "Direct Stream Copy" mode.
A little complex, but gives the best results you can get, and it is spot on size (between 697-699 MB every time).