I need a Hi-Def converter app

Alright, I'm putting the official word out. Because I love my HD-DVD player too much I am not getting a Blu-Ray player. However, I did pick up the LG dual format HD drive from my Vista machine, so if Blu-Ray is really taking over 3/4ths of the DVD titles like they say they are, supposedly I can rip them and still watch, correct? Well, almost. I can break the copy protection on both HD-DVD & Blu-Ray with AnyDVD which will give me free access to all the files on a Blu-Ray/HD-DVD disk. However, so far I can't find an app that can convert these files to anything useful. All I am able to do at this point is copy 12-15GB of EVO files to my HDD, but what am I suppose to do with that? I don't have a HD burner. Mostly because I don't want to buy blank Blu-Ray disks at $48/disk. Could you imagine if I got a disk write failure!? That would be the most expensive coaster I ever made! All I want to do is convert these files to an .avi or .mp4. From reading all the forum posts online, this seems to be what everyone else is waiting for too. The new .mp4 format seems to be the way to go (or what is called h.264), because avi or mpg is just going to produce a file way too big to fit on even a DL blank DVD disk. Still, nothing I can find out there can convert EVO files...yet. I know it's coming. Nero just made available a plug-in that supports HD-DVD/Blu-Ray, but only for playback at this point. Another app called DVDFab HD Decrypter is suppose to support the two HD formats, but doesn't. And, that's not me having user error or whatever, because the other apps I've downloaded can strip the EVO files work just fine, but the problem is they can't do anything with the EVO files. DVDFab is a crock of shit for promoting they can convert to mp4 & avi on google ad words. So if you hear of a real app let me know, thanks.