Regardless of which app you choose to back-up your media you should be able to adjust the settings to your desire output. In short, the higher the resolution, the bigger the file. I have used RipIt and it works okay thought it doesn't receive updates terribly often.
My preference, however, is to use the freeware Handbrake partnered with iDentify to tag the media and pull the cover art down. Handbrake has a crazy amount of options to tinker with but it also comes with a list of default options that you can choose to target which output you want (think Apple TV, iPhone, iPod, etc.).
To answer your question, yes, you should be satisfied with the results though I haven't used that method for years since I purchased my first Apple TV. You can simply use airplay at that point and no wires is always a great thing.
Hope this helps...