How to make a movie and DVD from MPEG-2 clips without re-encoding?

I have many standard DVDs (in MPEG-2 unfortunately) with unedited video footage. I want to transfer and archive the best scenes from these discs as individual files to my Mac, where I want to be able to watch them individually in QuickTime.

I also want to have the option to edit those files together into a new movie without re-encoding (no fancy scene transitions needed). I then want to be able to play this new movie in QT and also later, should I want to, put it on a DVD or Blu-Ray disc.

Here's how I though how to do it. Please let me know where I'm wrong:

My plan was to rip the scenes with Cinematize 2, but unfortunately I don't know which would be the right "format" to save the clips to. There are options for keeping audio and video together or separate, and I have to choose between elementary stream and MPEG2- Program stream etc. If I want to play a clip in QT, it makes sense to have one file with audio and video together, but I understand that FCP perhaps want audio and video as separate files?

After that, my plan was to edit the files together in FCP, if FCP can work with any of the MPEG-2 files produced by Cinematize. I would then use DVDSP to make a DVD. And if FCP can't work with MPEG-2, perhaps I could edit the clips together into one movie directly in DVDSP as it's already MPEG-2.

I would appreciate any advice on how to to this the best way I want to have as many options open to me as possible in the future. In particular, in which state or format I should save the files from the DVDs, so that I am both able to watch them individually in QT as well as edit them together in FCP or DVDSP.

Thanks,
Don