In my case, the operative term is, good DVD player. I have a 4 year old Momitsu, which by the standards of the day was excellent. It will play any disk, regardless of Region Code and upconvert via component, which most DVD players would not do. Its weaknesses are its remote control features, which are balky, and provide only limited on-screen information concerning where you are on the disk.I never quite understood the logic of ripping everything to Apple TV. It's easier for me just to pluck the DVD of choice from my collection and throw it into a good DVD player.
Converting my DVDs to MP4 files and being able to manipulate them with the Apple TVs much superior user interface has been like being let out of jail. The ease with which its possible to accomplish the conversion, thanks to Handbrake, made the decision a no-brainer for me.