Okay, the only reason I am linking this article is because, after spending 10 days straight copying my 3,500 movie collection, I think I have a pretty good solution.
First of all, you can rip DVDs with free / inexpensive programs like iSysoft iMedia Converter that can rip a movie in a few minutes. The downside is that it rips the movie at 720 x 480. Another solution, the one I currently use, is to use a hardware capture device (Elgato capture devices work good) in conjunction with a HDMI splitter (the cheaper the better). The splitter strips the HDCP from the signal allowing you to copy DVDs and upscale them to 1920 x 1080 at the same time (works for Blu-ray as well). The down side is that it copies in real time, meaning a two hour movie will take two hours.