Have been slapping the cd's on a friend's Linux machine with a program called K3B. It moves them across quite fast, like 3 min. for a regular sized album or so. We've saved them as either Ogg Vorbis or Flac files, both of which she swears are completely lossless.
I'm not absolutely sure as I'm listening to these new file types through unfamiliar speakers, but I think they sound fairly good. Supposed to be able to convert them back into smaller mp3 for discs, etc. as needed. The Ogg Vorbis take slightly longer to dub, but have a broader range of compatibility.
... Now, I just need one sizeable hard drive for this collection. Buahhh. Hee.