I can only speak for the Mac version. Yes, it's dead simple. You launch the app, specify DVD or VIDEO_TS folder, choose the output file format (mp4 or avi), choose the encoder (ffmpeg, XviD, or h.264), tweak the audio and video quality (if you want), and go. The tweaking is pretty easy. For video, you can set the bit rate, the desired final file size, or set the level of quality desired. For audio, you can choose the sample rate and bitrate, whether you have subtitles, and also whether to downmix the audio to Stereo, Dolby Surroung, DPLII, or leave it as 5.1. One very handy feature allows you to add chapter markers to quicktime files so you can skip to scenes just like on a DVD. You can also choose to output it as an anamporphic file, which is handy if you want to show it on a widescreen TV.
It sounds like a lot of details, but it's only as complicated as you want it to be. The included presets are great starting points.
