sqaccord,
Here's a method that I have used:
1) Rip the DVD using DVD Shrink. a nice guide for using DVD Shrink can be found here:
http://www.dvdshrink.info/reauthor_basic.php
Basically, you will want to use the "ReAuthor" Mode. Select Title 1 normally and unselect undesired audio settings etc. The guide is very easy to follow. You can change the start and stop rip points (to skip intros, cut out credits etc) by using the --><-- icon on the left hand side.
Let it rip, usually takes 20 minutes or so.
2) Use PocketDivxEncoder (
http://divx.ppccool.com/) to make into an avi. Some people have said they have problems, but I have not. I normally use video settings of 10-12 with sound at 3-4 with sound set at 80%. This means the audio is set at 44.1kHZ, 64 kpbs sample, Mono. Video bitrate is around 200. File sizes are a little larger, but quality is excellent (to me).
I use 2 pass encoding with B-frames, XVID codec (no download necessary), rotate to the right. Usually takes 2-2.5 hours to encode.
3) Use betaplayer to play the movie on your Axim.
http://betaplayer.corecodec.org/links.html
nelj