I just bought Popcorn2 and I am a bit confused about what it does as compared to Toast 8. Does Toast 8 perform all of the functions of Popcorn2 plus some? Is there any reason to own both?

Toast 8 does everything that Popcorn 2 does and much more. There's lots of info about Toast 8's capabilities on Roxio's product pages.

Popcorn 2 is excellent for what it does. And it does a couple things more easily than does Toast. For instance, if you want to convert a non-encrypted DVD to an iPod format, Toast 8 first needs to extract the MPEG video from the VIDEO_TS folder before it can do the conversion. Popcorn 2 skips that step and goes straight to the conversion.

On the other hand, Toast lets you export individual chapters from video DVDs as separate files whereas Popcorn only does the entire movies.

Thanks. That was what I wanted to know.