Just thought I would help out any other .netters who find themselves in the situation I just did-- I wanted to rip mp3's from my Starlake DVD to put the SBD recording in iTunes.

Free software you'll need:

HandBrake: http://handbrake.fr/
Extract Movie Soundtrack: http://www.monkeybreadsoftware.de/Software/ExtractMovieSoundtrack.shtml

Install them both, and open up HandBrake. Stick your DVD in the drive. Browse to the DVD, and at the top level, i.e. when you see VIDEO_TS and AUDIO_TS, hit Open. You only care about the audio here (though HandBrake rips both) so the video settings don't matter. Under the audio tab, Choose AAC (CoreAudio) for the Audio Codec, Stereo for the Mixdown (or a Dolby if available), Auto for the Samplerate, and 320 for the Bitrate. Keep Chapters on to make track splitting easier (otherwise use Audacity after the fact). Let it ride.

When that's done (it takes a bit), open Extract Movie Soundtrack. Keep the defaults checked, hit Process Movie File, and select the video you just created. You'll see that directory split into a bunch of AIFF files (EMS runs quickly) called Chapter 1, Chapter 2, etc. Load those up in iTunes and now you have lossy audio from the DVD (i.e on the level of .wav or .flac). Select and right click that shit if you want to convert to .mp3 in iTunes. Bag it, and (id3) tag it, and you should be golden!

Hope this helps someone out there.

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I thought handbrake can do this alone, right?
I rip my DVDs with DVD Ripper for Mac. Handbrake sometimes takes hours to transcode the DVD.