Divorcing..Splitting the cd collection..

Unfortunately my wife and I are divorcing. We have about 1000 cd's of which we both cherish very much.
We know splitting up the collection will be very hard if not impossible.
I suggested ripping ,if that is the right terminology ,to some kind of music server unit and make two copies so we both could enjoy the entire collection.As you probable can tell my knowledge in this area is very limited..almost nil.
Does this seem possible?
I am retiring so will have lots of time.
Any suggestions ,direction or sites that could get me started will be very much appreciated.
I should add I do not want to go the cheapest route as we/I (maybe) have a decent system and enjoy music very much.
What Macdadtexas said. It seems complicated but it's really not that hard. If you got yourself a mac mini and a hard drive you could rip all the music within a few weeks time and then let your wife keep the CDs. Hard drives are so cheap now days that you should back up your collection. Get an extra one and copy your whole drive once you get done ripping. Itunes is so easy to use and it sounds better I think than any CD player I've used and I've had some pretty good ones. I'm very happy with my digital sound and I am using a Mac mini and a 600.00 USB hard drive.
Go the mac mini route. It is faster and more stable. Best your wife pay you for the cds via buying you the mac mini. Otherwise, buy her the mini and you keep the cd's. I would not value the actual cds at more then $1 each. So, before going to a server solution, best you just do a mini. Used, it should be only about %500.
Well, I guess all the above solutions cannot help the loss of the real CD collection. They all describe just the keeping of musical data - not the medium itself and all the memories coming with it. So I'd suggest you sit down and really sort out who's gonna get which. It might come down to a couple of CDs where it is impossible to compromise but in most cases you'll beable to give away or keep the respective CD. In the end both of you will have at least half of the common memories (if desired at all!) and it's a fair agreement. For the rest of the CDs go for a decent hard disc and iTunes as described above. I'd suggest to rip NOT data reduced!
All the best for both of you!
Take turns choosing original CD's to keep, once chosen make copies of the half that is not yours. Each gets half the originals and have copies.

A good quality blank CD burned at a slow speed on a decent burner can equal the original.