Why use this unit instead of just a cassette player and a PC running Audacity? For example, just using any cassette player, and then output the sound using a headphone to headphone cable, and then make it go from the cassette player's headphone output to the computer's microphone or line-in, and just use Audacity to capture the sound from mic or line-in. Won't that work too?
Won't the computer do a good job at compressing the audio, given the computer is so fast and using multi-core these days? (just don't run other apps at the same time, like, just reboot and do the tape transfer without running any other app)