Digitize the material component directly into your AVID at 1:1. If you can visually see a difference in the picture from the DVD vs. the 1:1, you’re amazing. Chances are you will never see a visual difference and if it matters that much, have the filmmakers deliver a DigiBeta master.
As far as ripping the DVD goes… I know of several programs for Windows XP that will rip the DVD then create an AVI wrapper/pointer file that would point back to a .d2v file. Would could then import that into MC Adrenaline or DVXpressPro. But then it would have to convert the file to an OMFI, blah blah blah. 3 hours later…
You are far better off digitizing at 1:1 in realtime. It’s probably the fastest, cleanest way, without any recompression.
-Paul