Best way to copy LPs to CD's using a Computer

I have not found it to be a "big pain in the hoo-hoo" as some others have. For me, it is like the old days when one recorded a cassette- cue the LP, set the levels, re-cue and have a seat and enjoy the music as it is recording.
When I record, my plan is to listen to the LP, i.e., listen to the music. Normally, almost always, when I play an LP or CD, it is with the intention of listening and enjoying. If it's something that I wish to record for my iTunes library (so I can EASILY rip a CD for a friend and/or myself to listen in the car) I don't approach the process as a labor intensive act.
It involves a small amount of thinking and preparing, not as much as it has taken me to type this, BTW.
If there are 10 other things you'd rather be doing, rather than sitting, relaxing, listening, tapping your feet, feeling the hair on your neck rising, better yet- having someone else feeling the back of your neck, while you are ACTUALLY LISTENING TO THE MUSIC IN THEM THAR GRUUUVS, then I agree, it might seem like a pain in the arse. Better to go work on the car, mow the lawn, clean your gun, kick the dog, watch tv, check your stocks, pick your nose. Ripping a CD without even having to listen to it is truly a convenience.

I have been trying to find a high fidelity way to do this for years, but i've never found a well documented example.

There is much more than just the software choice. What is more important is the hardware.

Hardware wise - How can we get our LP music to the computer with the absolute most minimum comprimise? Spdif clearly is not an option for high fidelity, there must be some better way.

I second RW's response. Four or five years ago I purchased a stand-alone component, Pioneer PDRW-8339, for several hundred dollars. I have not been disspointed. The unit has made hundreds and hundreds of CD's with audio quality very close to the vinyl source itself. I think that this particular unit may be discontinued, but I have seen them used on ebay for around $150. I am sure there are other similar brands that will also give you good results.

I have digitized hundreds of LPs with an iMic and the free software Final Vinyl. I have had excellent results. I have an Apple G5 and I'm not sure if the iMic/Final Vinyl is PC compatible.

I copy mine to vhs tape and keep it analogue all the way.