any input for the best way to save a movie backup and then transfer to a MP3, or MP4 player to watch and listen to. ie what are the best settings to use when selecting configuration for audio and video. ???

You really need to give the specs of the player before we can recommend settings and then, the suggestions will always be subjective.

There isn't much listed that I would think is important but here it is:
Insignia® Pilot 4GB Video MP3 Player with Bluetooth Technology
4GB* internal flash storage holds MP3 files, photos and videos.
Built-in Bluetooth wireless audio lets you listen to your music with compatible Bluetooth headphones (not included).Supports MP3, WMA, WMA Lossless, WMA DRM, WMA Pro, OGG, WAV, Audible, MPEG4 (30 fps), WMV (30 fps) and JPEG formats.
2.4" high-resolution LCD color display with wide viewing angles
Built-in digital FM tuner with 20 presets; remember songs you hear by saving track and artist data from FM stations broadcasting RDS data.
Digital card expansion slot for additional memory capacity. High-speed USB 2.0 interface for blazing transfer speeds. PlaysForSure compatible
Upgradable to future formats and features
PC and Mac compatible.
I have tried a few different combinations of settings already but have noticed the audio seems a little out of sync with the video. The MP3 player comes with a converter to make the movie compatible with the player. I have tried using DVD Fab Platinum to first save the main movie from the DVD to a ipod file, then use the MP3 players converter to change it to the players format.
Any input will be welcome,,,,,,