It will work and the results will by very good, but not perfectionist. By that I mean they won't sound exactly alike in a side by side comparison. How important those differences are is an unknown. The advantage is that you'll have the music in an easier to access format.
Are you going to copy as whole albums, or break them down into individual songs? How are you going to handle artist names and titles?
Are you going to copy as whole albums, or break them down into individual songs? How are you going to handle artist names and titles?