Ever check out any of the products from PCDJ? I use them to DJ with, and also for a lot of my home source material, just out of convenience. Their pro stuff can be pricey, but basic software is under $100 and a lot of versions are available out there for free (
) if you know where to look.
Another great software is Tunebite--this allows you to remove the DRM protection from downloaded material, and also allows you to cherry-pick audio/video/both from sites like YouTube. A lot of people post material on YouTube that is not available via CD or digital download. This allows you to get a copy of that old OOP album. Just remember, the output is only as good as the source; however, the software does have a "cleanup" function for tweaking your final output. You can create digital files, build libraries, or burn CDs and DVDs from this software.