Could anyone please tell me which software is the best to use to rip DVD or CD and convert into WMV format in very less size and without affecting the quality of the movie? Please let me know of a good converter which is the best you have tried. It does not matter if it is free or not, I will pay. Your help will be highly appreciated.
Thanks in advance!

Dear darrenHall,
if this is for tracking in MM, I doubt you'll get any decent results. BTW, MM does not support *.wmv-files.
Or is this an off-topic request?
Best regards
Tim

Have you ever heard of Movavi VideoSuite It is wonderful solution for conversion between all video file formats. You can easily rip your video files and DVDs to work on other electronic video players like AppleTV, an iPod, a PSP, a video cell phone and other video storage devices. It can also make backup copies of DVDs or store DVD files on your PC or portable storage drive for additional backup. Hope this will work out for you.
Best of luck!