Whats up SirLoin?
I actually just did this with the Nickelback Live at Home DVD.
All you do is hook up you audio outs on your dvd player into your line in on yer sb live.
I used Cool Edit Pro to record it. I just switched the recording device in the settings to line in and hit play on the dvd player and then record in Cool Edit.
Im not saying you have to use Cool Edit, any other software would work too.
After you record all the audio that you want, you can then split the entire track into individual tracks if that's what you were planning on doing.
Hope this helps,