High quality digital recording

Please excuse this thread if it has been discussed to death but I have been unsuccessful searching old threads, probably asking wrong questions. Is there a componet to make high resolution (24/96) recordings of anolog sources (LP's, SACD, DVDA)? If so what format (DVD?) and how much playing time? Would the recordings better standard redbook CD's? On occasion more playing time than a LP side would be nice as well as portability.
Alesis MasterLink 9600 (very positive review by Michael Fremer in Stereophile).