LaserDiscs can't be "ripped" in the same way as CDs and DVDs can, because only the audio is digital. Therefore, you have to capture the analog video output and digitize it. If your LD player has a digital audio output (most mid-level and higher models do), you can capture the PCM (and I'd imagine AC-3 or DTS, if applicable) bitstream, but I don't think it can be done any quicker than real-time.