I would have started by now, but as it stands I need to purchase a AnyDVD HD license in order to get it on my computer. I can't afford that right now so I'm waiting for another software to work (I have the Blu-Ray, if it was the DVD I'd have no problems).
I have skimmed through the first 25 minutes or so and made mental notes of what to cut and how difficult it would be to work with. So far it seems like I can make significant changes without having to work too hard, so that's good.