I don't think so. The only audio options I get when I rip are MP3, PCM (uncompressed WAV), and two Microsoft Media. From what I understand, those 4 are all two-speaker codecs. There might be some specialty codecs that would give you 5.1 playback, but that would also render a movie unplayable on the majority of systems that don't have the codec. Hopefully this limitation of DivX will be corrected, along with the million other things where DivX falls behind DVD.
Hey, I just came across this article and thought about your post (http/dvd.box.sk/?pid=m&s=ac32-1) goes into detail on encoding AC3. I haven’t tried it yet though and I’m not going to have a chance for a while. Let me know if it works!!!
On your machine you might want to consider swapping out the ati64ddr with the ati aiw 32ddr. With this card you can record any cable broadcast and capture video from any source (like a VCR) to mpeg2. Then convert to mepg4! Within a few months you could surpass Blockbuster. You can even set it up to record 7 days in advance! However you wouldn’t have great gaming performance not that any game on the market would max it out currently. Did I mention this card doubles as a tivo like TV pause system too!!
I'll give it a try soon. Unforunately a lot of the ATI Radeon AIW's features are only available in the US and I live in the UK. I have the VIVO version of the Radeon so I theoretically can capture video although ATIs drivers don't like WIN2K and my other hardware but should work under 98.