Can digitizing vinyl match CD?

I'm digitizing some of my vinyl so that it is transportable. I'll keep the LPs, but I just don't want to buy duplicates of the LPs on CD. I have some LPs not released on vinyl. I'll be sampling at either 48 or 96 bps.

Is it possible for digitizing vinyl to match or exceed commercial Red Book CDs?

Is the commercial process of CD production by definition superior to anything I could achieve since the studio master recordings are fewer generations removed from the original than my LPs would be?

Are my CBS Masterworks Series Digitally Remastered LPs already compromised (compared to original analog releases) because they've departed from the analog production cycle?

Or is it only possible to exceed CD quality if price is no object?

Thanks for your thoughts.

If you want oversampling, then I would store the files at the native resolution because this is the most compact form to store in without loss, and then rely on a good oversampling DAC to do the oversampling constructively during playback.

My computer is a Mac G4 with an M-Audio Audiophile 24/96.
I can record at better than Redbook but since I tend to save everything in Apple Lossless, I don't know if that codec can save high bit rate recordings.

My Nakamichi CD player won't play DVD's. My DVD player might be able to, but I don't have it integrated into my audio system.

The Korg DSD recorders, especially the MR-1, are becoming very reasonably priced (300 usd or so), and seem to be a good choice for ripping. Even if - for now - we have to downsample from DSD to PCM (see
If you believe that using anything other than reference level gear (TT, Phono, ADC) will give you anything close to a decently mastered CD, then you must also think that vinyl is at least twice as good as good digital.

When you convert an analogue waveform to digital (and then convert it back to analogue), you are introducing a whole bunch of garbage that degrades the quality. It is almost as bad as converting CD down to 256kbps or lower MP3. There will always be a loss of information. No number of steps or sampling frequency boosts will make up for the gaps in the ADC conversion. Studio mastered CDs, when done correctly, should easily surpass needledrops of even the best TT gear.

You might prefer the needledrop version, but you are likely just enjoying its colors and distortion. The needledrop version cannot possibly have more resolution, detail, and better dynamics. It will have certain frequency responses similar to vinyl though.

I fail to understand how a (decent) studio digital file can be inferior to a consumer digital file of the same piece of music, especially when the source is vinyl (for needledrops) instead of master tape or digital master recordings (for studio CDs).