The pictures below are my recording 'studio'. I use an old Garrard Model RC 121 Mark II turntable, most likely from the early 1950's. The original price was $5.00 but I bought it at an estate sale on half price day so it cost $2.50. The GE VR 1 cartridge came with the turntable. This old mono cartridge works great, though I have had to buy a couple needles over the last few years.
The turntable is plugged directly into my computer where a 24 bit 2 channel wav file is created and that is the archive I use to convert to mp3.
I use CREATIVE software to create the wav file, the MMJ to convert to mp3. Then I use ROXIO to transfer to CD or DVD. I keep a seperate DVD archive of the wav files, plus a seperate external hard drive as an extra archive.
Pretty primitive, I know, but it works like a charm!