I use VinylStudio for ripping vinyl and JRM for playback. I recently ripped 2,200 lps at 192/24, a process that took 285 ten hour days to complete so I've learned a bit about VinylStudio. That was the rock/jazz/blues segment of my collection. Continuing now on the classical stuff.
VS saves your recorded (data) files to any drive you designate. Each recorded side=one recorded file although there may be 1-20 (pick any number) separate tracks per side.
After you have split the tracks, clicks removed, added cover art, etc., the recorded files and metadata/track splitting plus sound processing files are converted into one file/recorded track.
This is where your one file per side becomes the number of tracks on each side=the number of processed file plus one file for your cover art.
These are saved to any drive you designate into a folder of the artist/recording.
I would not recommend saving your initial recordings onto the same file as your processed and completed files. Also, if you rip a lot of lps at hi frequency/rates you will use a lot of disk space both in recorded files and processed files.
My current setup has two 3tb drives for recording, one is full and the other just beginning to use.
I save my tracks on a NAS which is in a hybrid RAID 5 setup with 4 drives so I can suffer a one drive failure and still not lose data after the rebuild.
Hope this helps