Short answer for the hardware you have: yet another vote for dBpoweramp.
Long answer: I used an inexpensive VortexBox to automatically rip, tag, and store the bulk of my collection in FLAC. It will optionally also rip to MP3 at the same time. I just slid each disc in and let it the box work while I continued to use my PC for other tasks. I used MusicBrainz Picard to edit tags on the few that were inaccurate. I then used dBpoweramp on the very few the VortexBox failed to rip, mostly recordings by local artists purchased at their performances, and then copied those to the VortexBox over the network.
I then placed the VortexBox in my server closet, attached it to the LAN and backup power, and am using one of the included apps to serve up the files and streaming services to all computers and streamers around the house.