There are a lot of sites that offer help and links regarding this. Here are a couple:
http://www.videohelp.com/
http://www.afterdawn.com/
One of the simplest and easiest to use is a program called 'DVD Shrink'. It was originally created to compress DVD's. But it can be used to edit out segments and leave at original quality or compress to your desired quality. Like Fango, I don't know if it will work with Windows 7. I'm still using XP. But I'm sure that the sites will provide links to accomodate your system. Some are free, some are share-ware, and some cost.
I think I should mention, make sure you follow the rules here. When you say you have hundreds of DVD's, it makes me wonder if you're talking about YOUR original stuff. The rules on this site stipulate that you do NOT post copyrighted material without the owners consent. Do NOT post material with a URL or edited with the URL removed. I'd hate to see you spending a lot of time capturing your DVD's, only to have the post removed because of rules violations.