I'm clueless I guess.
If one buys an Apple TV just to rip DVD movies through your computer to it, why not just put the DVD into your DVD player and call it a day?
What's the point?
If one buys an iPod just to rip CDs through your computer to do it, why not just put the CD into your CD player and call it a day?
What's the point?
The point is to have a movie library at the tip of your hands, without the need to keep the DVDs nearby (you can store them away, no need for a nice-looking rack of boxes), no need to handle boxes and discs. But there's also one huge positive point: when you rip your movie, you can finally stop losing time for the loading of the DVD itself, from those FBI warnings to the forced previews and all that useless stuff.
Time to start a ripped movie: about 10 seconds (selecting it from the list, clicking "Play").
Time to start a DVD movie: a few minutes. I'm not kidding, some DVDs are that bad. Time the "load time" of the DVD, the warnings, the previews, the DVD menu navigation, etc. I've rented some DVD who had about 5 minutes of crap before I could start the movie. Couldn't skip any of it.
And when Apple finally offers movies rentals and TV shows subscriptions in Canada, I'll be able to drop my TV cable to the "basic" package. It will probably be less expensive and I'll never miss my favorite shows again. PVRs are way too expensive in Canada, if they're even available from your provider (and they won't accept 3rd party PVRs either).