AFAIK, you cannot use Final Cut Pro to "rip" a DVD into an iPod-playable format (nor a QuickTime playable format, either). The reason is that if Macrovision protection exists on the DVD (I'm assuming we're talking commercial DVD here), Final Cut Pro will not circumvent this and the resulting movie will not be viewable.
If it's your own home movies (non-protected DVDs), once again, FCP is overkill. Many free, easier tools exist.