It really is, less than 5 minutes in most cases, no matter how many subtitles you want in the movie

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I might have to ditch my SubRip method and use VobSub from here on out.

Actually it's up to you, if you have enough time to correct subtitles, then use Subrip.
The VobSub method is much faster and effective hands down (no correcting at all!) and 10 mb for subtitles in 3 languages in a 3 hour movie (that you should probably encode in 2 cd's to get a good quality) is not much at all

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But... but... w/ the subs at 10MB each, I'm afriad I won't be able to squeeze them into the 650MB CDs w/ the divx

It's not 10 Mb EACH sub, 3 Subs in 3 Langs = 10 Mb
1 Sub only it's about 3,3 Mb in this movie and I needed less than 3 minutes to get them ready to use

Anyway, let's face the 10 Mb case, a few solutions to this :
- Overburn (10 Mb is not that much, even my cheap "Nikita" media can cope with that)
- Use 700 Mb media
- You're encoding the movie, right ?, then select a final size 10 mb lower, that shouldn't affect the quality that much

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file like I used to w/ the 150kb srt files I made using SubRip. Oh, the irony... Guess I'll have to stick w/ SubRip then.

Your rip, your choice.
I couldn't agree more with alexnoe, getting proper subtitles is not a 10 minutes task, sometimes I get so tired of correcting "I"'s and "l"'s and "ñ" and "n", italics, portuguese, etc, etc, that makes me want to throw all away, in that cases VobSub really does the trick..

PS: I'm a "Rookie" now,.. cool!