DivX Create Bundle

[amdnVuser]

So I'd like to get the DivX Create Bundle with the MPEG-2/DVD plug-in, and I'm wondering 1) if I really need accompanying digital video software and, if so, 2) what's the best bang-for-your-buck basic digital video software that supports the DivX codec (i.e. Adobe Premiere Elements, Pinnacle Studio, Ulead Video Studio, etc.)? I guess I'm not immediately interested in more advanced editing functionality, but I'd like an idea of what I'd be missing since I'm a novice when it comes to video editing. What I'd primarily like to do is back up my DVD's to a new 250GB PATA HDD that I'm about to get for an external enclosure (for my use only) and experiment with the DivX HD encoding options. Anyway, any suggestions would be appreciated. Thanks.