Seeing as how I've got a room full of kit for dubbing almost any audio format to CD I'd thought of offering this at a retail level until I thought about the copyright issues.
Well down here (Australia) at least not a problem, just get a blanket licence. You could pay $0.18 per track however $118 covers you for a year of upto 75 albums. If business booms no sweat either, just pickup the slack in next years licence.
Oh and no, you don't have to trash the original, in fact the gent on the phone was quite mortified at the thought of anyone destroying vinyl !
Bob.
Edit: Just another tidbit, vinyl sales increased 20% down here last year while CD sales slumped, a new vinyl plant has started up in Sydney.