Shoutbox

I need a program that can copy my (7GB) DVDs down to under 1GB. I want to transfer it to my psp which I could do if I had 7GBs free space on my computer but I only have 1GB.
Please tell me if you know a good, free program which can rip a DVDs contents from the disc to computer in a smaller format.
Thanks in advance.

If the format doesn't matter (i.e. if you're just transferring the files to another computer), you can use ratDVD.