Yeh just buy a multiplay DVD player. 
Step one...copy the Video TS to a folder onto ya hard drive. Don't need the audioTS nothing in it...
Next Download a copy of DVDLAB PRO free for 30 days.... 
Import the Video TS file (VTS_01_1) into the assets bin in DVDLAB PRO.
A Window will open and click on Join and Demultiplex to Elementary Streams.
DVDlab PRO will join the Vobs 1, 2, 3, etc and rip the audio track out of it. Cool Hey...and it will dump a big single VOB and seperate audio track in the Video TS folder.
Find and move these two files to another folder so you don't get lost..
DVD lab Pro can also convert the sound track to a PCM or wav audio file if you like for NTSC players.
Next encode that big single vob to a single mpeg 2 progressive 720/480 @ 25fps file. Try TMPGE etc..
Then run that new 720/480 25fps file through dgpulldown (FREE) putting in the 25 to 29 flags.
Then get that file and compile it with the audio file into a NTSC DVD.
Does not take that long once you have it set up. There will be no menus/chapters, just pop it in and it will play.
DVD LAB PRO is very good (CHEAP) in making DVD's, you can even include you own code.... and it can do what others cost $1000's of dollars worth can do. You can really get in their and fiddle around. About the only thing it cannot do it output to DLT tape for replicators, but most take normal Master DVD-r's now days anyhow. The guy that made it must of really anoyed the big $$$$ DVD authoring software makers.
www.mediachance.com is the place to go and have a look..