Recommend a method of getting analog into my PC

I am going to start ripping vinyl into WMA files for my dad (I stole his collection). Lossless is what I am going to use.

I have a nice vinyl front end with tube phono stage. I need to know what software and hardware I will need to make this happen.

I don't think the sound quality will be what I need through a sound card. A usb device would be absolutely ideal. I would like to spend under 500 bucks.

Any suggestions?

Thanks - Evan

Sorry if this seems like a newb topic, but I have done alot of searching and had less luck then I thought I would.
I just bought a m-audio firewire audiophile audio interface. Sounds pretty damn good. I go out from my phono stage into the M-audio into my Mac. I can also monitor the recording from my amp using the M-audio's line outs.

I also bought for $80 an Edirol UA-1ex, same thing but USB. Have not used it yet so cant comment on quality.

The M-audio was $200. Both can be used to playback the digital signal into analog for the amp. I dont expect either of these to match a 1K unit or any other fancy setup but sounds very close to cd's.
try posting on Lots of folks there into computer audio big time. One thing I do know is that you will need to take a line leve signal off the tape loop of the pre-amp via RCA cables and then run it through an A-D converter of some kind before storing it on the PC's hard drive.
Try to look after Korg rm-1000. It is a 2xdsd hard disk recorder, with analog output and with option to shift recorded sound material with pc to other hard disk(s). Fairly identical record. Only problem, that its 40 gig hd contains max 6 hours 2xdsd material, but you can always make compilation of music from the background hds. So half computerbased, but fairly cheap (1000 usd around) and easy to use.
I thought I would do this but found it tried my patience more than I was prepared for, however I did do some research and found these-
a Griffin iMic - the product web page for which doesn't seem to want to play.

I bought the iMic for about $15 on ebay to experiment with and decided it was more trouble than justified the proper kit.
Software is bundled with the imic or you can download various utilities - search for lp ripper or lp ripping in google.

Your phono stage output should connect directly, using the supplied phono to minijack adapter in the case of the imic, but if you want to monitor /listen via the main system while ripping, Swampwalker's suggestion of using the tape out will work too.

For the outlay, I was happy with the quality of the transfer I did (yep, just the one!), it was the splitting of tracks and titling/tagging them that I found unacceptable.
Good luck
I use an M-Audio Audiophile Firewire with my MAC for two way data stream. The USB model can be found used on Ebay for around $100. I just compared the Monarchy NM24 DAC to the M-Audio, and while the Monarchy had more hyper-detail, I enjoyed music through the M-Audio device better.

For the money, I think you would be very happy.
Lots of interesting responses which I will research.
I use Roxio Toast software with my MAC laptop (lossless).
The sound is very good, but like others, very time consuming in that the entire LP must be played. So unless you REALLY want it digitized, forget it and enjoy the vinyl.
One irritating aspect of this program is that it does not seperate the tracks. The option exists, but the sensitivity is so high that every low passage is seperated and the music is broken up- ahhh! So, track one is all of side one, etc.
Therefore, it may be time to look at other options.
Let us know what you decide.
Thanks alot guys! Ill check these out.