You can rip the video and subtitle information seperately from a
dvd and then create subtitle files in different languages which can
be played over the top of the player using clever players like Video
Lan or Media Player Classic.
To do this you need to convert the sub files you can rip from the
DVD information here
Software - install a package with lots of tools for riping dvds called
Gordian Knot - http://gordianknot.sourceforge.net/
This has a programme attatched to it called Vob Sub Rip

You can open up IFO files from the DVD with this tool - Make sure
you know which segment of the DVD you want to encode. you can do this
by previewing the VOB files that are on the DVD.

You will be offered a screen listing languages. The default is to
choose all of them. This seems fine stick with this.
It will then strip the information of subtitles from the DVD and
save it as an .idx file and a .sub files - and then you can either
encode that to an external file or burn the subtitles directly into
a file using Virtual Dub
Actually .sub files are not text files... they are in graphic format....
They also come with an index file .idx
TO convert an .sub file into an .srt you need to install a program
called vobsub onto your virtual pc.... and use a program contained
in that package called vobresync
Open the programme - Open the *.sub file and then Save As and choose
*.srt
It works like a scanner ocr program... in which it attempts to identify
the letters from the sub graphic text. Whatever it doesnt recognize
it will prompt you to enter ... the more it does .. the more it learns...
You can also create your own subtitle files with Subtitle
Workshop -
Creating subtitles burned into the xvid - using virtual dub
Open Virtual Dub Mod and open the relevant VOB file that corresponds
with ifo file.
Add a filter Vob Sub - and choose the .sub file that you have just
created,
you get a choice of languages - choose the relevant one.
You can then encode the file normally [see other files for how to
encode to divx or dv avi]
If you have an Srt file you can Add Filter > Subtitler and choose
the styles options there.