"Magic" is what -- the VLC Media Player?
Be smart. Let Premiere Elements do the work for you.
Put the DVD into your disc drive and then use Premiere Elements' Add Media/From PC DVD or DVD Camcorder to get the video from the disc to your computer.
This tool will grab only the video files from the disc and copy them into your project, where you can edit them and output a movie from them.
Thanks, Steve. Since I keep all of my photo files on an external Hard Drive and intend on keeping my videos of the scanned 8mm movies on there also, will the Add Media/From move video file to my external HD? I am a rookie with Photoshop and Premier, so I want to watch some tutorials before I start trying to start a video project.
The "magic" is the "Video_TS" folder on my desktop. I just checked Downloads and, yes, there is a "vlc-2.1.1-win64.exe"
There should be few problems, when using the external HDD. So long as its connection is fast enough (USB 3, FireWire 800, eSATA, etc.), and so long as your computer's OS sees that external as the same drive letter, each time. This article goes into more detail: http://forums.adobe.com/thread/784220?tstart=0