I've pinged everyone who originally responded to this thread for any input & advice you may have. If you don't mind, would you scroll down & read your original reply to see if there have been any changes in your advice or something you would like to add? After all, it's been 2 years.
I'm about to have a little time on my hands and this is on my list of things-to-do. FINALLY. Here are my specific questions:
1. Do you know if there have been any particular technological advancements since this was posted?
2. What's the cheapest way to do this? I have NO music equipment & will have to purchase any necessary equipment to complete the task (stereo amp, audio portable cassette recorder, software, etc.). I DO have a sound card on my computer, but I don't know what kind. (I looked under Control Panel, Systems Information, but don't see it.)
3. Finally, I'll be ordering a new desktop computer as soon as I can figure out the feature$ I need, (leaning towards the Dell Dimension 3000). Maybe I should wait until I get the new computer. Is there anything regarding software/sound cards/hard drive space I need to know before purchasing?
4. Finally, if you're just passing through, please ping any FR music or computer gurus you know.
Thanks! I can't come back until tonight, but any help would be appreciated.
One more thing: I have a free trial copy of Cool Edit 2000 that I ordered and never used. They've probably come out with something better by now!
I'll check in with you in a while.
PS...there has been a technological improvement to my logo. Arrrh!

My advice (as someone who spends hours and hours -- last night till 4:30 a.m. -- working on audio recording/production/restoration): consider just digitizing certain tapes/records, and leaving the rest to enjoy in tape format. You'll spend time digitizing them and editing them, when you could just listen to them someday instead.
If it's a really significant project (from a historical perspective, for example), perhaps apply for a grant and have someone else do the digitizing.
It's cool to move audio from tape/records to CD (or to share on the internet with friends), but in most cases it's not worth the time and effort it requires. We've been allotted a certain number of days here, and your time may be better spent doing something else....
Memento mori.
I just got done converting a bunch of my Christmas tapes to MP3 and then I loaded them in my iPod. They sound great!
1. Software gets updated to new versions, but I don't know of any significant advancements.
2. It doesn't take a lot of money to do this. You already have a sterio and PC with a decent sound card and CD burner I assume, so you just need the cable to connect them and the software to record it to your hard drive or CD-R.
3.
Software: I use Nero Burning Rom myself, but for tape->CD other programs (like Roxio's) may be better.
Sound Card: Needs a sterio line in jack and good sound quality. I'de say go with a well known, well reviewd card.
Hard Drive: The bigger the better no matter what you are using it for.
For doing a lot of tapes, I would say just get them onto CD-R now and worry about editing them later on.
I buy all my audio equipment at garage sales. Good cassette players are being given away.
2 years later, the tech has gone crazy - even without a non-pro soundard, if you have the right software, you can improve on the original tapes (on my home page, there's an excerpt to a piece I wrote on a drum machine when I was a kid - dig!)
Go with .wav files all the way, 44,100 khz at 16 bits, which is the CD standard. MP3's will be converted to that anyway when burning your CD(s).