Assuming you have an Apple laptop, I would suggest you download/install one of the following ripping programs: MAX or XLD with preference going to XLD. Download the XLD GUI version from here:
http://tmkk.hp.infoseek.co.jp/xld/index_e.html.
Then do a search on "How to properly set up XLD ripper." Some good sites will come up. Most notably, you have to look up your CD Rom drive offset value and enter it into XLD preferences before you begin ripping. It is a little complicated intially, but XLD is suprisingly easy to use.
Supposedly these programs offer better rips in comparison to Itunes. I have no idea.
I would suggest you rip your files to AIFF, which is Apple's version of WAV (uncompressed file). Or, select Apple lossless for a smaller file. You can always change the lossless file to the uncompressed AIFF version if you choose. They sound identical or nearly so.
Once you have a few CD's ripped, add them to your Itunes library. Itunes provides the best player interface (IMO). Plus, you can use the Frontrow program, which is very cool. Early on, my laptop sat on the top of my audio rack. We used the little Apple remote and Frontrow program to move through our music library. It worked great!
Again, presuming you have an Apple laptop, I suggest you get a USB or Firewire DAC. That is the simplest way to get great sound from your computer. Squeezebox would work as a DAC and also display, but it is not as slick as frontrow and you have to use their music catalog software/player instead of, or inaddition to Itunes.