I've always used CloneDVD in combination with AnyDVD for this. If does everything you want it to do (drop certain languages or subtitles, compress to single layer or leave at the orginal size, skip commercials and logos - in other words make the movie start playing the moment the file is loaded, etc...)
Works great, but I don't know if there is a Mac version of this software. But maybe you can run in in a Virtual Machine or by using Boot Camp?