Small resurrection of this thread:
I have some DVDs (actually movies on TV recorded with my HDD recorder) stored on my hard drive, and I need to compress them. They're simply mpegs created using copy /b VTS_01_1.vob+VTS_01_2.vob+VTS_01_3.vob[etc] "somedir\output file.mpg" at the command line; as such they're completely uncompressed and take up around 3-4 gigs each.
I've tried converting them to a format such as wmv using various applications (Windows Movie Maker, VLC etc), but the conversion time is pretty much a 1:1 ratio with respect to actual movie length. Would compressing using DivX or similar be much faster than converting to a higher-compression format? Bear in mind I don't want to lose anything by way of A/V quality.