no Nero wont do that part, but its great to burn the end results, from that magical,and free piece of software called DVD Shrink!!
heres a easy as pie guide for shrink. http://www.dvdshrink.info/guides.php if its small enough you can just use the whole disk guide, if its too big you use the reauthor guide, and just follow along and watch as this guide shows you exactly what to do.You also need DVD Decrypter for those rare times that shrink wont cut its,also free!!
you can enable Nero to interface with shrink for a fool proof way to backup.
you might wanna disable burning with nero at first, so you can preview your files with your dvd rom player software such as win dvd or power dvd etc.you can burn manualy using this guide for nero.http://www.dvdshrink.info/nero-video.php
if you dont have a dvd rom or even if you do you might also wanna invest in a few dvdrw's until you get it all figured out,cause those coaster at close to, or over a buck a piece, are kinda pricey since they make terrible coasters, cause of the hole in the middle. he he