What's the best way to extract audio from a video file?

I am a huge fan of [HandBrake](http://www.handbrake.fr/) . It is the epitome of simple. Select a video file (or DVD), select a preset, select an output path, click Start. A certain amount of time later relative to the size/quality of the content, and you have yourself a pretty much perfect video file suitable for the medium of your choice. I've been looking for similar qualities in an Audio Converter, and more preferably, an Audio Extractor (from a given video file). I would love to be able to drag a video file into an application, specify that I want the Audio File in AAC at a given bitrate, click Start, and let the app do the rest. I am not averse to using Handbrake to suffice the conversion aspect of this, so long as the audio extraction after the fact is a simple process. The point is to take as few steps as possible. Any tips? Apps? Ideas?