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

If you buy an analog-digital converter it will come with a software package. Go to pro audio sites like this to see what is available. The Lexicon Omega is a nice little unit that comes with CuBase LE, which is a very powerful program and widely used so there is a lot of support.

I agree that it is a real pain in the butt to do. Copying CDs is a breeze, hit the button and come back when you want, but LPs require your attention to start and stop the recording, you get one big file per side that must be broken apart if you want to name the songs, and then you have to type in the names of the songs. You have to monitor the levels too so it is almost but not quite clipping. Cds copy very quickly but you actually have to play the entire LP to copy it so it takes quite a bit of time. IMHO not something you want to do very often.

The pain-in-the-butt factor is purely personal preference, and if I have the record I don't see much reason to digitize it as I would rather listen to the record when I'm home. I have over 2,000 CDs ripped so that is plenty of portable music if I want, not that I do that very much. I have made a few copies of OOP records on CD for friends, and I have some old cassettes of OOP stuff that I've digitized so that is nice, but for me, and that is the key, for me it is generally a pain to do. I've got maybe 3,000 LPs and I'm not going to live long enough to digitize them :>(

As for the spdif comment; the pro converters I mentioned above have USB and/or firewire outputs if that is a concern.

The fidelity from VHS tapes is clearly inferior. Check the specs. If just being analog is the criteria then 8-track is analog too.