Are there any open source equivalents to this?

http://www.ratdvd.ca/

Basically, you pop in your DVD and it (supposedly) converts it all into a ~1GB file

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RatDVD takes a full featured DVD-9 movie and puts it into a highly compressed .RatDVD container format file of about 1.x GB in size while preserving all the features of the original DVD such as:

* Full anamorphic picture, 16:9, 4:3, Pan/Scan, WideScreen, Lettorbox based on original DVD video content. * Support for full seamless branching, 9 multiple video angles, 32 subpictures, 8 audio channels, etc. * Keep movie versions (Directors Cut, Theatrical version, etc.), Alternate story endings, making of, visual commentary , cut scenes, animated anecdotes, etc. * Keep or transcode multiple audio channels without detoriation loss by staying AC-3. * Fully working original DVD menus, title navigation, quick seeking and bonus features. * IMDB connected XML tagging scheme with automatic search for title, actors, directors, plot and DVD cover. * RatDVD naming scheme automatically appends content based naming extensions to RatDVD files to allow for easy finding the content you want.
* Directly burn or create ISOs from the application.
* Reliable high quality, valid check-summed container.
* Display of tagging information in windows explorer
* Playback in the media centers, player of your choice
* High speed analyze mode with detailed information about DVD content for size prediction
* Optional, anonymous sharing of DVD analyze results
* Playback in wide variety of media centers and players

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