NEED HELP - Convert HD-DVD (ts & par2) files to burn on DVD??

I have these files already on my hard-drive:
Movie.HD-DVD.REMUX.VC-1.1080P.DDplus.DD51.Fanxy@Silu.DISK1.ts 4.3 GB
Movie.HD-DVD.REMUX.VC-1.1080P.DDplus.DD51.Fanxy@Silu.DISK2.ts 4.3 GB
Movie.HD-DVD.REMUX.VC-1.1080P.DDplus.DD51.Fanxy@Silu.DISK3.ts 4.3 GB
Movie.HD-DVD.REMUX.VC-1.1080P.DDplus.DD51.Fanxy@Silu.DISK4.ts 831.6 MB
Movie.HD-DVD.REMUX.VC-1.1080P.DDplus.DD51.Fanxy@Silu.par2 58.9 KB
Movie.HD-DVD.REMUX.VC-1.1080P.DDplus.DD51.Fanxy@Silu.vol00+01.PAR2 4.8 MB
Movie.HD-DVD.REMUX.VC-1.1080P.DDplus.DD51.Fanxy@Silu.vol01+02.PAR2 9.6 MB
Movie.HD-DVD.REMUX.VC-1.1080P.DDplus.DD51.Fanxy@Silu.vol03+04.PAR2 19.2 MB
Movie.HD-DVD.REMUX.VC-1.1080P.DDplus.DD51.Fanxy@Silu.vol07+08.PAR2 38.3 MB
Movie.HD-DVD.REMUX.VC-1.1080P.DDplus.DD51.Fanxy@Silu.vol15+15.PAR2 71.6 MB

How can I convert them to either VOB(DVD) or ISO, so I can edit in a program like DVD Shrink to remove unwanted subtitles,audio, and so that it fits on a DVD+R DL? and then ill probably make an iso to burn with imgburn.

Since the quality will be reduced to fit on DVD+R DL, would the picture quality be worse or better if I just went and got the original DVD copy instead?

Thanks.

PS. A bit off topic, but is DVD Shrink good anymore as compared to new software like DVD Fab? Just wanted to know to get the best picture and audio quality, since I haven't seen DVD Shrink getting any fame lately.
In other words, will 1080p content on a DVD+R DL, look better than 480p content on a DVD+R DL, when played in an Xbox 360 at 1080i/p resolution?