Miraizon's Cinematize 2.0.5 update has been posted.

-Added MPEG-4 File output for iPod, PSP, and web
-Added iPod Movie File output (QuickTime 7.03 or later required)

I think more people use MPEG Streamclip (and now Toast 7) for extracting video and audio from VIDEO_TS folders. However, Cinematize does some things very well and I'm glad to have it in my arsenal.

One thing that is cool is how it can automatically create individual files from each of a DVD's chapters. It also lets one select which audio track to export. So this makes it easy to export AIFF tracks from a music DVD for burning to an audio CD.