I have been transferring LP's to CD for about three years. Much of my vinyl will never be re-released. The key to success is a good combination of software (I use and highly recommend Diamond Cut Audio Restoration Tools Millenium version), a fast PC (P3/P4 lots of RAM, big empty hard drive and no excess applications, utilities running), a good turntable and cartridge (DUAL CS 606 with Sumiko Pearl cartridge), and good pre-amp (Carver C1..not the best but OK) and a GOOD sound card.. I use a TerraTec 96/24EWX (all digital...PC's with built in sound chips and some cheaper sound cards add hiss and distortion to your recordings, be careful) with Windows XP. Even if the vinyl is new, clean it with a correct cleaning solution (as recommended by Disc Washer or Nitty Gritty cleaning systems), play it once to clean the grooves, set your levels, etc and then record it on the second pass. Using Diamond Cut, you can record the entire album, break up the sides into individual tracks, remove any unwanted noise or adjust the brightness, bassiness of the original recording, even add some extra "umph" with the EQ, Tube or Reverb tools. Then using the CD burning tools of your choice, burn the CD at the SLOWEST speed possible, as this will eliminate any possibility of digital annoyance pops, clicks, breakups from getting onto your new CD.
And make as many copies as you want, for your self. The laws state that if you can not be using it in more than one place at one time, it is legal. And I would like to find anyone who can drive their car, listen to their home stereo and play on their PC at the same time. Well, I can't!
Best of luck!