, I found the instructions I needed.
Good find Dan. I had been using VLC 0.8.6, so this was good info about a useful upgrade. Unfortunately, the result is a bit of a mixed bag - at least on my system.
Yes, it does what it claims to do: convert DVD audio to MP3/WAV, what have you (even FLAC!). Just be very careful about getting the settings EXACTLY the same as the demo screenshots. I tried creating both MP3 and WAV demo files, which played back perfectly using JetAudio. So that's good.
The problem: VLC doesn't stop at the end of the track that you want. Instead it carries on to the end of the DVD if you let it. You must click the Stop button to terminate the streaming (ripping) at the end of the track, so it helps to know the time position in advance of ripping the track, otherwise you'll be looking to do editing with something like Audacity (though that might be easier in the end: rip the whole DVD as one track and slice and dice it into tracks with Audacity).
Thanks again for pointing out this info Dan.