I don't think it makes sense to convert to analog, and then back to digital. I'm pretty sure that you can rip your high rez discs directly to a hard drive without going to analog first. Go to computeraudiophile.com. You should be able to find out how to do this over there.
I have a similar unit (Alesis Masterlink 9600), and it records to 24/96. It's best used to make copies or to record something like vinyl at a better quality than redbook. If the format is already digital, its like doing the whole thing twice. Convert your digital to analog just 1 time, using the dac you have your PC connected to. The results should be better. I'm not an expert, but you probably run the risk of introducing unwanted jitter into your music, with all the converting. Hopefully, someone who knows more about jitter than I do, can confirm this for you.
I have a similar unit (Alesis Masterlink 9600), and it records to 24/96. It's best used to make copies or to record something like vinyl at a better quality than redbook. If the format is already digital, its like doing the whole thing twice. Convert your digital to analog just 1 time, using the dac you have your PC connected to. The results should be better. I'm not an expert, but you probably run the risk of introducing unwanted jitter into your music, with all the converting. Hopefully, someone who knows more about jitter than I do, can confirm this for you.