I have done what I am asking for quite a few times in the past, but it was so long ago that I've forgotten how to do it (basically what software I need) ...
So, here is the deal:
#1: I have a DVD movie playing ... say it is about 2.5 hours long.
#2: There is a scene or two in the movie that I want to 'capture'
#3: I want to have this 30-45 second 'scene' 'copied' from the entire DVD into its own .WAV file
#4: I want to be able to double-click on the .WAV file and watch the clip I captured
I might be leaving out something, but I'm sure from the description above, you can understand what it is that I want to do.
Example: I pulled out from a DVD of the Super Bowl the last play of the game ... 4th down and 9 to go. That incomplete pass was a scene that is about 45 seconds long. Now, I can simply watch that single last play over and over ... at will by double-clicking on the .WAV file I have saved.