I used to rip CDs I owned. Then I actually destroyed all of the copies. Cut 'em up. Why bother with taking chances. i keep buying used CDs. Got about 3,000 now, along with the 6,000 Lps and a few thousand DVD movies. I do not worry because I keep the discs, AND play them. Computer playback, for me, is a ways off. When hi-rez downloads are common, I 'might' go for a media computer setup. The big trouble with computer stuff is if it breaks. you are out your stuff. And yes I know about a separate drive, and extra drives, and some folks STILL get SOL on the deal.
If my 6,000 Lps and 3,000 Cds were in a device that could die at any time, or decide to refuse access for some new rule made up by RIAA crazies.. (who managed to get the software co to impliment an 'update' that cut off my access..) Jeez.
And THAT can and probably WILL happen.. sooner or later. So using a computer for music storage is a bit too iffy for my taste,what with the RIAA, and various laws in place or getting passed, or being thought up as we comment.
I mean if one wants to take the chance..fine.. i would not.