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Does the quality of the DVD Rom effect the out come of the DIVX file?
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Nope. Only thing it'll effect is how fast the files can be put onto your PC's harddrive.
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How much money do you think It will cost for a DVD Rom?
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I think it's about $50 for a 16X drive (that is a drive that can read DVDs at 16 times their normal play speed when ripping)
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The directions look complicated for ripping and compressing DVD's. How long will it take a newbie to get the hang of this?
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Just follow the guide step by step and you should be fine.
One thing to note is that the speed of your PC is really important to the time it takes to rip and reencode a DVD. If you have a PC with a processor slower than 1 GHz, you have to do the reencoding overnight. If you have an Athlon XP or Pentium 4 it won't take as much time.