In reply to nwclimber:
Exact Audio Copy. Rip to FLAC, not WAV; still bit perfect, but 40% smaller, and has real metadata support (WAV doesn't).
Or any decent media manager (MusicBee, MediaMonkey, JRiver, Foobar, etc etc). You will need a media manager anyway. MusicBee is excellent, free, and well supported.
Ripping is painful and time consuming. Storage is cheap. Don't rip to a lossy format (MP3, AAC). If you must have lossy versions, keep the lossless FLAC files, and transcode to a parallel directory. Again, any decent media manager will do this. The latest version of EAC will do two compression passes when it rips (one for FLAC, one for MP3). Use the LAME compressor for MP3.
ps. I have assumed you are using Windows.
Post edited at 12:09