If you record the digital S/PDIF stream into your soundcard, you are recording realtime audio and will inherit whatever the on-the-fly error correction and jitter of the source and S/PDIF signal conversion is, as well as taking 45 minutes to record a 45 minute album.
If you rip the CD on the computer, the error correction in the ripping software can use whatever time is needed or multiple passes are required to insure bit-perfect files as well as decrease the "recording" time to a fractional multiple depending on the chosen ripping speed (2X, 4X, 8X, etc.)
Steve