There are some things to think about as you put it all together. Music takes a lot of disc space and most laptops don't have very large hard drives. It might not take long to fill up the drive on your MacBook, particularly if you start downloading high-res files.
Consider an external hard drive attached to the MacBook as your primary repository and keep your favorites on the MacBook drive for traveling. Hard drive memory is so cheap these days that you should buy a couple of one-terabyte external drives for starters, one as your primary and one as a mirror backup of the primary for the time when your primary fails, which it eventually will. This is really important, you don't want to have spent all those hours ripping CDs and the money spent on downloads just to have it all disappear when a drive fails. And, again, it's not a question of whether a hard drive will fail, the question is when.
Because the components in a laptop have been miniaturized to save space they are a little more prone to failure than external components and they're expensive to replace. I would suggest you get an external CD/DVD reader to do the ripping. They're cheap and a lot less expensive to replace than the internal drive on a MacBook.