Pure Vinyl looks really cool. I've already made some investments in my process of transferring 600 LP's to digital, though, so it's a rather pricey choice at this point for me.
For what it's worth, just to put an alternative approach:
Mac OS X/Mini with Bias Peak (similar price to Pure Vinyl)
Outboard A/D converter: USBPre
Click/noise fixing on Windows with Cool Edit/ClickFix
Archive as FLAC, burn to CD.
I record 24-bit 44.1. I can't do 96 with my setup, but at the time (2002) anyway the cost of the hardware/software was the best compromise for me.
Depending on the record, splitting the tracks can be easy or challenging. The hardest part for me is figuring out how much to clean the audio. Sometimes a light touch with ClickFix in the gaps will do the job, sometimes I end up just living with a few natural artifacts to preserve the high end, etc.
Recently I've been experimenting with Cool Edit's noise sampling and removal functionality. I'm debating whether this might be more effective and less harmful than I previously thought. Jury's still out.
But the bottom line for me is that saving the final work in FLAC and/or CD is the way to go. MP3's are like low-end cassettes in the modern age. I still hope for on-line retailers to start selling non-DRM in lossless formats. Then I may just buy digital replacements for alot of my more scratchy/warped items!