I'm a first-time poster, but I've lurked for awhile.
This project sounds really cool. I did something similar with the PlayStation 2 game "Bounty Hunter" awhile back. I ripped all the cut scenes from the disc. After a lot of trial and error, I ended up with about 40 minutes of footage in 16X9 anamorphic widescreen. I must say it looks really good! Here's some screen shots:
Mu ultimate goal was to make a nice DVD with all the cut scenes, some examples of the gameplay between the cut scenes, the game trailers, and all the material found at the official web site as "bonus" DVD-ROM material. However I never ended up with any interactive menus that I was really happy with, and I couldn't capture the gameplay and game trailers and mix them with the cut scenes I had converted....possibly because the gameplay was 4X3 and the cut scenes were 16X9?
Probably someone with a little more DVD authoring knowledge than myself could really make something cool out of this. Or if Kaal-Jhyy decides to make the Video Game Cutscenes project an ongoing project, this material could be useful. Just thought I would share.