I have a VIDEO_TS directory that appears to be formatted for BSplayer. I can get it to play fine in VLC, but I would like to burn it to disc to play on my standalone dvd player. I tried just treating it like a regular VIDEO_TS directory and my player doesn't recognize it. Here is what the file structure looks like:

VTS_01_0.IFO
VTS_01_PGC_01 - Chapter Information - BSPlayer.chf
VTS_01_PGC_01 - Stream Information.txt
VTS_01_PGC_01_1.VOB
VTS_01_PGC_01_2.VOB
VTS_01_PGC_01_3.VOB
VTS_01_PGC_01_4.VOB

I reckon you could use IfoEdit's "Create IFOs" function here. You will need to rename the VOB files to remove the PGC_01 so it will look like VTS_01_1.VOB, VTS_01_2.VOB, and so on for your four VOB files. Note there is no leading zero after the second underscore like there is in the files you mentioned.
When you click Create IFOs in IfoEdit, it asks for the first VOB of the title-set and also asks for a Destination directory for your IFO files. It'll then go through the VOB files creating the necessary IFOs you need. You then need to copy the VOB files from the source directory to your Destination directory.

Additional note: If the VOBs had been named VTS_04_1.VOB, VTS_04_2.VOB, you would need to rename them to VTS_01_1.VOB as IfoEdit outputs IFO files starting from 1. The IFO file must correspond to the VOB files for a particular title-set - VTS_01_0.IFO belongs to VTS_01_x.VOB and so on.

IfoEdit can be downloaded here.

Regards

TZ