You'll need something like divx (
www.divx.com) to compress the DVD. Divx is a Quicktime plugin and has a number of settings, one of which is to compress down to file sizes suitable for handhelds.
But first you'll need to convert the DVD VOB file. The way I do this is to rip it using MacTheRipper, and then demux the audio and video using MPEG2Works. I demux the VOB into seperate MP2 and AC3 files.
I then use MPEG2Works to convert the AC3 audio to WAV. Next fire up Quicktime and convert the WAV to MPEG4 audio. I copy and paste the audio back into the video file, then export to another file using the divx plugin.
Please note I have Quicktime PRO and the MPEG2 component.
It should then be a case of copying the divx file over to the palm, and playing on a divx capable player, such as MMPlayer.