I seems from your post that the source would be DVD either way.
In that case, definitely ripping.
1) You're not likely to do better than a straight digital transfer.
2) Ripping usually goes faster than realtime, IOW you can rip the DVD at 4x-16x the program length.
3) You can use the awesome power of the newly updated
Guide to the fullest extent by ripping.
Hope that helps.
My Eyes Are The Victim's Eyes.
My Hands Are The Assailant's Hands.