As mentioned previously, I use an Elgato Turbo.264 HD stick to quickly encode movies for use with my Apple TV.
I'm now in the process of looking into ripping all of my DVD content into H.264, so that I can also watch it on the Apple TV. My current DVD player is an Xbox 360 and the fan noise on that thing is incredibly loud. Besides, it's nice to have all of my content in the one place.
I tried simply adding the mounted DVD drive to the Elgato encoding software, and while it accepts the DVD files, for legal reasons Elgato have chosen to disable this feature for copy-protected DVDs.
I could use Handbrake, which works well, but is far too slow to rip & encode video for my liking. Besides, what's the point of having the Elgato stick if I can't make use of it?
The solution to this issue is quite simple:
[Update: if you're having trouble getting the Elgato software to pull in all the chapters using Fairmount, then try rip the entire DVD to your hard drive first. Sometimes Fairmount can't decrypt the DVD, but using an app like RipIt! should do the job (don't bother encoding with RipIt! though, just drag the folder that it creates into Elgato and it'll work as expected). Oh, and Daring Fireball currently has a 25% off coupon for it.]
That's it! Now, all I need to do is hire some cheap labour to import my collection for me - any takers? ;)