I just tried this and it worked perfectly.
First, I used DVD-Lab to "demultiplex" the VOB file into its Video and Audio streams.
I ended up with two files. The video file had an extension of MPV which nothing seemed to like. I changed the extension to M2V and it was just fine.
The audio file is PCM audio and DVD-Lab converts it to a WAV file no problem.
Once that is done, you can import into the Premiere Pro. When you put it on the timeline, it will be totally redlined, so it must be "rendered" to play smoothy, but it still played well enough to edit before the final rendering.