USB Turntable transfers your old records form vinyl to digital music. Just connect USB Turntable to a pc via USB port and you can transfers your old records on to your computer.

This audio gadget cost £119.95 on Firebox.com
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Vinyl reproduces frequencies up to 100k Hz. Cd reproduces 20-20k Hz. While above 20k Hz is above the range of human hearing, those frequencies do affect how we perceive sound. So transferring your vinyl may have two unexpected drawbacks. One, it is going to expose the weakness of the source to a more noticeable extent, and two, you are losing ultasonic information that affects how you hear the sound.
If you don’t want to pay the premium, you can find these even cheaper at musician retailers like zZounds, et. al. We just reviewed the a USB record player turntable on GearCrave- $99 in the US (and even cheaper for refurbs and whatnot). They don’t come with software, but you can get free audio editors online that’ll do everything you need.