use iTunes, and change the default import file type to MP3. it will look up the correct song/album names, as well as album art.
whether or not you choose to use it as your media player is up to you, but you can then, as mentioned above, use an external hard drive if your internal can’t handle that capacity.
I would rip them at 320bps to conserve quality and then store them an a NAS (Network Accessible Storage). That a huge (1TB or more) external hard drive that you accept through the router on your home network. Everyone should have a router at home anyway.
I use this softwae: http://www.ripstation.com/rsmicrods.html to rip 500+ CD’s the software worked well, quality was good. the company also makes a robotic soluion.
For storage I would us networked attatched storage (NAS) with a RAID 1 mirror so if he drive fails you arent stuck ripping CD’s again.g
—iTunes works well for me, but it looks like ripstation micro ds might be better if you want to get the job done faster. —Store them as MP3s. It’s the only format that plays on absolutely all hardware and software —320kbps is probably good. I would try different settings with headphones and compare to the original CD. 256kbps sounds just like a CD to me, so I use 320, for a little margin