I am looking for this:
A player that could play back a DVD moive with .vobs but in an edited form.

for example

I load a VOBs onto hardrive. edit the movie down with cuts.

Save the "playlist" of the edited movie with placemarks.

Can open the editor/player fullscreen to playback the files.

I want to be able to save a edit file and play it smoothly with out ripping the movie.
Kinda like windows movie maker's . WMSWW file.

AND WOULD BE FREEWARE OR VERY CHEAP. does not need to covert files.

Any ideas, I am very new.