Yes, I have had success doing this. I too have a huge vinyl collection that I won't or can't re-purchase.
You'll need three ingredients:
1) RME FireFace 800
2) Steinberg Wavelab 7
3) The book Mastering Audio, Second Edition: The art and the science by Bob Katz.
Regarding the audio-chain you listed, eliminate the preamp when you are recording. Go directly out of your phono stage into the RME. Does your phono stage have balanced outputs? Ideally, it does and you will connect those balanced outs to the natively balanced ins on the RME with a set of Mogami Gold Studio balanced cables.
You'll need three ingredients:
1) RME FireFace 800
2) Steinberg Wavelab 7
3) The book Mastering Audio, Second Edition: The art and the science by Bob Katz.
Regarding the audio-chain you listed, eliminate the preamp when you are recording. Go directly out of your phono stage into the RME. Does your phono stage have balanced outputs? Ideally, it does and you will connect those balanced outs to the natively balanced ins on the RME with a set of Mogami Gold Studio balanced cables.