[LAU] Simple hardware & software for digitizing analog audio recordings

Hello everyone! I just joined this list and already I feel I'm in way over my head. :-) I have one simple question, but it definitely involves using Linux for audio. In fact, it's such a simple and common question that I'm almost embarrassed to ask the experts here about it. I've finally got my collection of analog sound recordings (LPs and audiocassettes) down to the relatively few that aren't available in any digital format but are worth preserving. That means I'll have to digitize those myself. So -- Can anyone recommend (or disparage) any particular hardware and software for digitizing sound recordings? Here are some specifics about my equipment and my expectations: Something close to CD quality or 320 kbps MP3s will be "good enough" here. I'll be dealing only with existing stereo recordings. I already have a turntable, receiver (including phono preamp), and cassette deck, all working, that are IMO good enough. I also have the 25' of audio cables (RCA plugs) necessary to connect my "stereo system" to my computer, unless rearranging my entire room to bring them closer together would make a significant difference. At the computer end, I have an low-end Compaq desktop with integrated audio (inadequate quality for input here) running Mandriva 2010.0, an available PCIe-x16 slot and some USB 2.0 ports (no Firewire), plus lots (hundreds of GBs) of free HD space. For the new audio hardware, I'd prefer something that not only fits this machine and runs well under Linux, but will also be usable in future desktop Linux systems (e.g. not a plain PCI card if possible). Anything that would fit into that PCIe x16 slot (I understand a PCIe x1 card will work in a PCIe x16 slot) or a USB port -- I just need something that will accept line-level stereo inputs. I'm hoping to find something decent in the US $40-80 range, new or used. For software, I thought I could use 'rec' to put the digitized audio into some standard file format (and automatically split it into tracks if desired), and 'audacity' for the digital signal processing (noise reduction, declicking, etc.). Or are there other programs that would be better for me, either in audio quality or ease of use? Any recommendations for hardware or software, especially hardware, would be very much appreciated! Suggestions on where else to look for advice would be welcomed too. Thanks! Adam