Well a simple answer is yes. I do it all the time. I use a Sharp portable Minidisc recorder and my PBG3. Conect the Line In & Out add some headphones and play your DVD.You hear the sound through the recorder an what you hear is what you get. I think the Minidisc is well suited for this. You can use the audio clips for just about anything. Remember if you bought the DVD you own the right to the content on it. Screw the MPAA! You buy it you own it!!
Jeff