More media server, DVD, Digital Video questions

[N_Jay]

OK, looking for opinions.

I have been using AnyDVD to decrypt VDs so I can put them on my media server.
I like that they push updates often, and how transparently it operates.
I now find I need to put it on a second computer, but before I buy another license, I was wondering if anyone had anything they liked better.
Suggestions?

Next, what format do people find best for storing movies and TV shows?
I want to stream then to PCs and an XBOX360, and having them ready to convert to smaller formats like a PSP or such.

I may also get a stand=alone or networked media player soon, so that is a consideration.
I also want to preserve as much quality as possible for display on HDTV screens.
Again, suggestions?