I have just started a project of converting LPs to Cds and can offer the following. I am using a process similar to EjLif and am happy with the results. As with any "audiophile" system the result is as good as the components and between the vinyl and finished burned CD there are a lot of pieces; TT, Stylus, cartridge, vinyl quality, phono preamp/DAC, computer interface & software, editing software, Cd burner, all cables, etc. There are different levels of audiophilia and you need to determine what satisfies you but in general I found the $99 all-in-one solutions I've seen are not great.
If your TT is adequate you should expect to be able to reproduce the quality you get from it, no more. If you are not happy with that audio quality level you need to upgrade there first. I'm finding that my finished CDs sound the same as when I connect my TT directly to my system. Fortunately my old TT and cartridge are very adequate. From there I go into a Project II USB unit and then into my computer via USB. For recording and ripping I use LP Recorder and LP Ripper by CFB Software. In order to have any audio quality at all you must use WAV files and/or Apple Lossless in iTunes. I edit the tracks with the LP Ripper software and pull them into iTunes. I have the Wave Corrector DeClick software which does a great job getting rid of pops but I have decided not to use it as it seems to reduce sound quality just a bit. If I have pops I try to correct them at the source if possible or live with them if not. In ITunes I edit the track names and burn. I also do a few things to pull in artwork and then use SureThing CD Labeler to make CD and case labels.
For me to get better results I need to upgrade my TT and then DAC. If I invest more in a TT upgrade I would probably jump into listening to vinyl directly too.