The easy part? Well... you put the cd into the PS3, you click on a box on the screen, and 10 minutes later you take out the cd and you are done and you have the ISO file. Then, you run a MAC or PC program (also free) which splits the ISO file indo the individual DSF files with all the names, etc. Since the extraction only requires inserting the CD into the PS3 and the extraction from ISO files to DSF takes one click, many audiophiles who have attempted this task have found it manageable.
Of course before you do this you have to have a PS3 with the correct firmware, then you run a small (free) program to modify the firmware slightly. This is also a task that many audiophiles have found they can handle. For the more timid, you can buy a PS3 already modded and checked out for, maybe, $250 or $300, thus saving approximately $15,000 over a complete Pyramix or similar setup which will also copy the DSF files to your hard drive.