Converting cd's to high resolution audio


All my music is on cd's and my reading tells me that the cd itself has a limited shelf life and will degrade over time.
Any recommendations about converting my cd's to FLAC or some type of high quality music files. Not looking for
compressed files.
I see products such as the Blue Sound Music Vault and a Sony High Resolution Music Player.
Does anybody have any thoughts about how to accomplish this goal?

Thank you. 
128x128kjl1065
I am also in the market for a CD ripper. There is the Cocktail Audio X40 streamer/cd ripper/ cd player (and X30 that includes an amp) that interests me, but very few reviews out there. Compared to the other rippers on the market, this one uses a ESS Sabre DAC, one of the better DACs in the market. 
If you have an Oppo or similar player a simple method is to rip the CDs to a portable hard disk using a program like "Exact Audio Copy.". They can easily be played them through an Oppo via USB directly and controlled from your phone.

Or you can use a lap-top to play them through any DAC that has a USB input. If it doesn’t have USB you can use a USB to spdif converter. If you use a program like JRiver you can rip them even more conveniently and also control from your phone.
OP
first of all, very few CDs “degrade”.  I still have mine from the early 80s and they play just fine.
  I have ripped several hundred CDs to the Vault2 and to a hard drive.  Nothing has broke.
I think that you have read too much Audiophile nonsense.  
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I concur w/ Elizabeth, in that, there is an incredible amount of information stored/locked onto a CD or SACD. Historically, there have been a few players that possessed an ability to unlock ,  retrieve, the data in those pits and lands. The new Marantz SA-10 is such a player and relative bargain compared to the top-tier Esoteric (both actual brand) and other  spinners in the $15K to 50K neighborhood. 

Secondly, the DAC has come of age and properly matched w/ the best transport (C.E.C and other brands) offers the listener a never before musical experience.
Happy Listening!