Dolby AC3 is exactly the same at Dolby Digital. They just stopped calling it AC3 around the time DVD caught-on. Don't lose any sleep over it.
The DD/AC3 vs. DTS debate is largely a personal opinion. some people can hear a difference, some people cannot. Of course the DD and the DTS tracks don't always have the exact same mix (such as Apollo 13 or Jurassic Park). This has caused some confusion, but most new releases use the same mix.
Of course the quality of your HT equipment will likely factor into how much, if better DTS supposedly sounds
Personally, I only have 1 or 2 DVD's that I can tell a difference with, and even then it isn't night & day.