It may be easier to use an external CD Recorder
Kind of similar to the approach mentioned above with the in-comp tape deck, but in this case, you use an external tape deck (which you likely have) and a stand-alone CD recorder such as the one I have from Harman Kardon (CDR2). Using this method, the tracks are auto-divided on the CD based on the quiet space between tape tracks and with an auto-reverse tape deck, you don't even need to flip the tape. These external machines should be down in price now and probably cost the same as a good sound card.
With the HK, the audio quality is as good as the tape you start with. Now that the recording is archived on a CD, you can then pop the CD into the computer and convert to MP3s if you wish using Nero or my fav CDex.
In the end, it's still a bit of work and sometimes easier just to search the file sharing services for songs that people have already converted. I mean, is it illegal to download a copy of something you already own?? Of course, this won't work for the obscure titles you have.
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