What is the fastest way to putting movies to my iPhone 4?

My girlfriend and I love to watch movies and I have a large DVD
collection. Most of them are uploaded to my computer and since I have
my PC and my Xbox 360 connected, I watch them through my Xbox 360 with
ease.

I am trying to find an easy and less bulky way(like having to take my
Xbox/PS3 or a dvd player and a bunch of DVDs) of watching moves.

Anyway, is there anyway to upload them to my iPhone so that I could
either watch them straight from the iPhone OR use it with an Composite
AV Cable and connect to a T.V. and wala?

Its just that, I feel like I have to convert the movie files to iphone
compatible and so forth, but that's time consuming.

Any suggestions?

And FYI: I do have Netflix, but it doesn't have new movies, which is
what I pretty much watch most of the time and I don't want to get
nothing else (Hulu etc). And my iPhone is also jail broken, so if
there is an Apple App or a Cydia App that could help, please let me
know. =) Thanks!