I want to rip a dvd (and/or blu-ray) to an ISO, but remove some of the features on the disk (i.e. menus, extra features). DvdFab and DvdShrink for Windows allow users to do this. Any similar programs for Mac?
Yup, it's called Mac DVD Ripper Pro, it works great on my Snow Leopard MacBook Pro, and it's Lion-compatible according to the RoaringApps website. It costs $19.95 at the moment, and the free demo works on 5 DVDs, website is here:
FYI, the RoaringApps Lion app compatibility table is here:
RipIt is the best I've seen. You can try it free, it is paid software with a novel guarantee. If you can't rip a title, they will buy that title and fix their software for you.
How about HandBrake?