One thing that should be considered is longevity. CDs backed-up on HD can last forever (can be restored), while LPs will develop over time more noise and pops (that I cannot tolerate). Of course one can make analog tape copy or digitize LP, but original media cannot be recreated from it.
Also, according to RIAA, copying CDs (for non-commercial use) on Audio CD-Rs is perfectly legal, since royalties are paid (included in the price of Audio CD-R). CD I copy from my friend doesn't have box/booklet but it cost about $0.25 It is not only the way to save money, but mostly to legally obtain CDs that are impossible to buy.
Also, according to RIAA, copying CDs (for non-commercial use) on Audio CD-Rs is perfectly legal, since royalties are paid (included in the price of Audio CD-R). CD I copy from my friend doesn't have box/booklet but it cost about $0.25 It is not only the way to save money, but mostly to legally obtain CDs that are impossible to buy.