My preferred method is to use DVD Decrypter for the rip, and then use Lathe (which is worth every penny of the $5 I paid for it) for mobile device conversions to XviD MPEG 4. I can't stand watching DivX at home, but for those who really want it, AutoGK is a tool I've heard good things about.
A trick to lower the file size of your rip is to open up the VOB in something like IFOEdit and then strip out the extra languages. You won't halve the file size, but you'll get it down somewhat.