Yes, you can. You just need two additional pieces of software. (I'm assuming you are in a Windows environment.)
First, you need to get a copy of ImgTool Classic 0.91.X, which you can
get from
http://www.doom9.org/software2.htm . (Look for it near the bottom of the page.) ImgTool Classic will create a DVD image (.ISO) of your .vob, .ifo, .bup, AUDIO_TS, and VIDEO_TS files/folders.
Second, you need a copy of Daemon-Tools, which you can get from
http://www.daemon-tools.cc/dtcc/portal/ ... ry&catid=5 .
Daemon-Tools is a CD/DVD-ROM emulator that will allow you to mount the .ISO image you created with ImgTool Classic. Using Daemon-Tools, your operating system will "see" another CD/DVD-ROM loaded with your DVD image. Once you've mounted your DVD image, you can view it, menus and all, with VLC or any other DVD software player.
Things can get even more interesting if you have a network of PCs. You can store your DVD images in a shared folder on a file server, and then mount the DVD images over the network on the client PCs using Daemon-Tools. This way all the client PCs will have access to the DVD media, without the hassle of distributing the physical media or the risk of it getting scratched/damaged. (I have small children.) And this method, unlike the simple streaming (i.e., no RTP/RTSP) method, maintains all the trick-play features of your DVD software player.
Think of it as a poor man's video-on-demand.
kjo