While this is not an explanation of everything, I use CDEX from google.com to do the rip and it does the tagging. Tags are just the label on the song.
As to DRM, CDEX doesn't so it's a non-issue. I don't like DRM since it could interfere with use of the audio in the future. So I switch that off or use CDEX that doesn't have it.
As to lossless, you may want to listen to a lossless file then a MP3 of a high bitrate then decide. I did.
Bob
I'll just start by saying I've never really done any converting, or ripping or creating MP3s but I want to start by archiving my CD collection to a lossless format and then convert that to some format to play on a portable. What I want to understand is how converting ripping, tagging and digital rights managment works. I don't expect a comlete answer but I'm hopping someone will point me to some resources. I've read the Guide on Ars Technica which I found helpful but still leave me with questions. Like how is it that Windows Media Player, MusicMatch and those know all the information about the artist on my CD? When I played with WMP it had to get me a license, but this is a CD that I allready own. If I use it to copy my CD directly to the player it seems to play but if I copy to my hard drive then drag and drop the files to the player they don't play. What's all that abuot and how is it idfferent that how seperate tools work like db power amp converter and Tag&Rename.
I don't expect comlete answers but hopping someone can point me to some good resources to learn more

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