I have one of these. I thought I would use it to transfer all my vinyl, unfortunately it is a very time comsuming and hands on way of preserving the good music of yesteryear. With the simple software provided you have to make all the breaks between tracks manually or you end up with one very long track. If you want to record both sides of an LP you have to be nimble and whip the disc over pretty quickly or end up with 30-40 second blank tracks.To date I've done only 2 LP's. If you have upwards of 500, like me, that can mean about 400 hours work.
Good luck I'm sure it will be worthwhile for rare and no longer obtainable tracks but it's easier to buy a CD as they are so cheap these days.