Ed to be honest with you, you might not be too happy with the quality you get from that mpeg file. The best thing to have is the source material from a beta, or anyother type of tape format. Ripping from a DVD is not best way to go because of the compression that goes into those files. We are currently using Sorenson Squeeze with our Adrenaline and I can't complain... You can download a demo of their software from there website...
http://www.sorenson.com/ the file will get watermarked but at least you will get a fell for what it looks like and you can decide if you want to buy it or not.
Hope that helps,
Scott