Following is the method I have used. First, because it was impractical to have my desktop computer next to my HiFi setup, I bought a Tandy turntable (Aust$99 or about $US70) which has a pre-amp built into it. I used a program called Clean to record the LP onto my hard drive. It also has the facility to "clean" the recorded music to eliminate crackles and other misc. noises to give you an enhanced wav file that can be burnt.
If you have a stand-alone turntable, or can disconnect one from your HiFi setup, there is Clean Plus software which comes with pre-amp hardware included. A pre-amp is required because most turntables by themselves usually haven't got enough volume output for recording.
Are there CD-Rs on the market with external inputs for transfering Long Play Albums to CD. Or what kind of a setup will I need. Do I lose quality in this transfer? Thanks! Bob Jackson, firstname.lastname@example.org