You will mostly need 2 cdr disc for a good convertion of DVD to cd ( SVCD/VCD). Not all standalone dvd players support SVCD but most new ones do. It'll give you very nice, nearly DVD quality. Yes it's also possible to preserve the DVD menus.
But doing the convertion will take time, depending on your processor , it can be 2 hours for a movie or 24 hours. You will also need at least 7 gigabytes of free room. And if you want the nice moving menus and chapters too then it'll take even more work.
Most people just rip the DVD movies at High quality SVCD on 2 cdr disc.