you can choose how big you want the files. i usually aim at ~690 mb so i can burn it onto a cd. anything bigger, and you would have to burn it to a dvd, which cost adds up after a while. average movie @ 690mb is pretty good quality, if done with gordian knot.

iirc, you can play the video_ts.ifo file with wmp, and it plays just like playin a dvd, w/ all chapters, menus, selections, etc.