I get good results by this method:
1) Use a standalone "pro" CD recorder like the Tascam CD-RW750. I have had much better results with an outboard CD recorder rather than using a computer, although the computer-based would probably work OK with a good external sound module and good isolation.
2) Run high-quality interconnects directly out from your phono stage into the CD recorder. If you want to listen as you record, run a second pair of interconnects out from the recorder to an amp, or use headphones with the recorder.
3) Record each LP side as a single track, direct to CD-RW. Don't worry about extra space at the beginning or end of the recording. I find trying to split tracks during recording to be a hassle and error-prone. It at least requires lifting the tone-arm between tracks. When done recording, finalize the CD-RW and insert it into a Windows PC.
4) I use Sound Forge on a Windows PC to rip the two tracks and bring them up on screen for editing. This is very fast, usually only a couple minutes for an LP.
5) Split the tracks each into actual tracks, saving each as a separate file. This could not be easier with Sound Forge, and very fast. You can trim any starting and ending time, and with a bit of practice all the splitting can be done visually just looking at the amplitudes. At this point you free up the CD-RW and can reuse it for the next job.
6. Apply any de-clicking or other restoration techniques you wish to the new tracks. I try to keep digital processing to a minimum, but a measure of de-clicking seems to help nearly all LPs and is not sonically damaging to my ears if used on a low setting. I increase the setting for records with more obvious problems.
7. Use whatever CD burning program you want to create the final CD. I have good results burning at 4x (staying on slower speeds improves quality) and using black CD-Rs.
This method requires the CD-burner (which can nicely integrate into your hi-fi system) and the editing software, but the results have been astounding. A number of the CDs I have created this way are among the best sounding of all my CDs (including commercial ones).
Of course start with a clean record (I use VPI 16.5/disc doctor).
Although this may sound like a lot of work it goes very fast, with a bit of practice. Besides the time it takes to play the LP, in which you can enjoy listening to it, the editing takes about 5-10 minutes per LP and burning about 10 minutes per CD. Probably the biggest hassle to me is whenever I go to dub an album I unplug the phono stage from the preamp and plug it into the CD recorder. Swapping cables is annoying and only necessary because I am so finicky about not wanting to keep the recorder in the signal path for normal playing. A phono stage with dual or switched outputs would be handy.