Oh, if you want some Vinyl propaganda this guy writes a pretty informative and entertaining (keep in mind it is subjective however) online column about the relative merits of vinyl (I like his choice in music as well):
http://www.furious.com/Perfect/vinylanachronist.html
I re-read your post, whatever you do, don't get rid of your CDs. Depending on what sort of music you listen to, some of it might sound better on CDs (hip hop, electronic, jazz re-remixes etc). Zeppelin, Hendrix, Black Sabbath and Metallica definately sound way better on vinyl though.
Also with the Playstation, it's only the first model scph 1001 that is considered worthy for CD playback.
http://www.furious.com/Perfect/vinylanachronist.html
I re-read your post, whatever you do, don't get rid of your CDs. Depending on what sort of music you listen to, some of it might sound better on CDs (hip hop, electronic, jazz re-remixes etc). Zeppelin, Hendrix, Black Sabbath and Metallica definately sound way better on vinyl though.
Also with the Playstation, it's only the first model scph 1001 that is considered worthy for CD playback.