Converting Vinyl to digital

I saw an interesting unit in JC Penny's today. For $99 you get a record player and you can feed your LPs to either a computer or burn a CD. While this is probably not the best choice for an audiophhile, I am curoius what is out their that will do this to satisfy at an audiophile level.
I have no direct experience with it, but the Apogee Duet has garnered some pretty good reviews for doing just what you want in a small package and with excellent a/d conversion. It is also called out for it's excellent DAC section. Again, no direct exposure to it. It is targeted at pro-audio, like most devices in the realm of what you are seeking, and is strictly a MAC/Firewire device. The hardware interfaces are pro-audio (1/4" plugs and XLR inputs) so you would need adapters. Since you did not list your hardware I don't know if that is appropriate. The other one that comes to mind is the Focusrite Saffire recently mentioned it the TAS digital issue. Again, a pro tool with pro interface in both hardware and software (you would need to be a bit tech savvy to use it). Sweetwater has plenty of choices in various interface devices. The one I found there that actually uses RCA plugs and is relatively simplistic is here, but I don't know anything about it, and I think it is relatively new. It uses a USB interface, along with RCA in/out. No more expensive than your JC Penny device.
hi Chris -

I use protools because it's what came with my 'Mbox' so you do need the Mbox. this is a downside of protools: dedicated hardware - that other software doesn't require. that being said, Mboxes are ubiquitous and used ones can be found for well under $200 with ease.

once I've recorded the LP, using the best resolution my protools version has (24/48 WAV file) I convert it to a 'redbook' standard (16/44) 'aiff' file; then I can import the file to itunes.

at the risk of starting a riot...

perhaps it's a function of the A-D filter in the protools or the DAC in my CDP (or both), but, in some ways, my CDs that I make from LPs sound better to my (clearly flawed) ears than the LPs, especially in the bass. and I realize this makes absolutely no sense whatsoever.
oops - I forgot to answer:

I run from preamp to mbox, which is connected (USB) to the computer.

Just wondering what the difference would be if you have a preamp with a tape out , a cd / recorder, turntable and while the record is playing , recording it to cd. Once the album is finished, take the cd to the computer, use a program called NERO to convert the audio files to AIFF or WAV files and then can either burn it to cd or can use a program like Audacity or Goldwave where you can edit the recording ( remove pops, ticks, etc..) and then once finished burn to cd.
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