And a quick note the DVD or VCD image won't have MPG (or MPEG) files - in the case of DVD look for the VOB files, in VCD the AVSEQ##.DAT files which are MPEG-2 and MPEG-1 respectively. You can rename them to something that is easier to remember the content and add an MPG extension if you like.
If you set Toast prefs to not delete converted assets when done you can find the M2V (or M1V for MPEG-1) and M1A video and audio files Toast makes in the Documents\Roxio Converted Items folder. Quite handy as each original clip is a separate file. You can merge (mux) them in MPEG Streamclip.