I use iTunes to manage my movies.
I have about one hundred movies right now on two firewire drives and itunes is used to catalog them and play them.
As I don't always want to watch movies on my computer I stream them to my
AppleTV.
Now that I have a iPhone I can also watch them on my phone.
I use a free program to RIP my DVDs to the drive called
Handbrake.
It all works very well other then an occasional DVD that doesn't want to RIP due to some convoluted copy protection but this is rare.
iTunes has also started renting and selling movies so no RIPing needed for these.
My rich and now dead neighbor had one of these.
http://www.kaleidescape.com/
Worked great. Cost him about 20k.