Love to see a thread on this topic and read how people are going about digitizing their LPs.
Be careful what you wish for!

It might actually encourage people and in all seriousness, I for one would actually dissuade people from doing it. there is so much to learn if you want absolute top-notch results (and I accept nothing less) that I could almost hold a 6-month long full-time course in it or write a pretty thick book about it. If I had my time again I wouldn't have started doing it to be honest - it is a HUGE undertaking even if you want a 95% transparent result to the original analogue source, let alone anything better.
OK, for me I might be able to start sitting back and relaxing now after 4 years and enjoying the fruits of my labour. And yes, my results are better than any commercial CD I have heard. But, they are
not better than a 24 bit, 96 KHz download or Blu-ray disk of the same (assuming they all come from the same source which in my case they do for the most part).
It took me a year full-time experimenting and learning, refining equipment choice and refining technique as well as constructing the workstation and that was well before I even got to the stages I described in my previous post (actual CD production). Just my operational flowcharts and checklists that describe the full transcription process step by step on my setup run to about 20-plus pages. And to add insult to injury, a couple of years into the project 24 bit, 96 KHz downloads and even blu-ray audio disks became far more common - specifically targeting the type of material I am interested in - classical music recorded during the "golden age". And to my ears - as I mentioned in the previous paragraph - these high resolution sources will beat a vinyl transcription any time, regardless of how good the equipment used is and no matter how brilliant and golden-eared the "engineer" is (again, assuming the downloads or blu-ray disks come from the identical source material as the vinyl which is the case for me).
But of course I was already so heavily committed in terms of time, money and resources that I wasn't going to stop half-way through and change to buying the downloads - especially when I already have a decent vinyl collection. But what I have learned in very broad terms from my own experience is this:
You need highly-refined critical listening skills because it is not just a case of pressing buttons and dropping the tonearm. You need to know what thresholds (what, how, why, when) to push for correction of common vinyl arfefacts, you need to learn do it both manually (sample by sample) as well as automatically - but changing the settings each time because every record is unique. You need to listen to each and every single edit you make through both speakers and headphones, otherwise you run the risk of introduce phase issues, since these are an un-wanted (but avoidable) artefact of many correction algorithms.
You need a brilliant analogue to digital converter, otherwise there is no point. The losses between the analogue feed and the digital output from the converter are surprisingly obvious, even with expensive equipment. So if you are not up to borrowing or using something like a dCS converter (even a vintage one from the early 1990s will give excellent results), you are going to change the sound quite noticeably even before it hits the workstation. Then when it hits the workstation hardware and software you need to be a master of that too. Mine runs on Windows and even changing settings you'd think should make absolutely no difference whatsoever to the end-sound will, infact, change the sound. This is especially the case when the software runs on a complex operating system that was never designed from the ground-up to be used specifically for audio mastering. You can trim the OS to the bone and tweak it till the cows come home - it will still change the sound.
So the bottom line is that I grapple to see the point these days when so much material is being released at high resolution and from original master tapes. Just look at the massively expanding download catalogue at Acoustic Sounds, for example - it's all audiophile stuff from the same sources used to make the audiophile LPs.
As I say, if I had my time again I would have sold the entire vinyl collection and just bought downloads in lieu. What I have definitely found is that the two main reasons commercial CDs sound bad (when they really ought not to since the high resolution equivalents sound great) are these:
(I) the resampling algorithms and dithering algorithms used are not as good as the state of the art ones available today, so there is a substantial loss from the original "flat" 24 bit, 96 kHz transfer from the analogue tape to the final 16/44.1 CD master file. Yes, there is always going to be a loss - it is quite noticeable too. I spent a year full-time trying to make this particular processing step transparent and failed miserably. But it doesn't have to be nearly as bad as what we hear on commercial CDs. There are better products and better settings available today, but it takes time and extremely refined listening skills to find the right settings. You have to know what to look for and you have to know exactly what the instruments sound like in real life if you are to manage this part of the process properly.
(II) Yes, this is going to be incredibly controversial, but I don't care - different blank CD-Rs sound different, as do different burners. Again I spent a year and about $1,000 just going through different brands of blanks and burners. In the end I use an expensive blank from Japan and expensive Pioneer burners only available to the Japanese Domestic Market. Depending on the CD player you are using, this can also create a substantial difference in sound. The CD blanks and burners I use are about 98% transparent subjectively to the CD master file. But that is way better than a commercial CD which I would typically rate at around 85% to 90% for the same.
Of course, if one just wants high resolution copies then the CD stuff doesn't matter, but even then there are tricks to watch. It goes on and on but the point I guess I am making is that I simply would not recommend it in this day and age. It is highly involved, extremely time consuming and the results simply cannot - by any definition you choose - equal the quality of a modern high resolution download procured from exactly the same source.
Sorry about the diversion and getting OT. But I had to put it out there. You really need to be a bit of a lunatic to grapple with it and I don't mind admitting that I must be one!