Hi SJ beat,
I directly record side A and side B of the vinyl in WAV (by default in 24-48kHz in my Audacity) like many other people on the web.
Then i separate each title individually, always in WAV. Then, after that, i convert each track to FLAC to be able to better tag the whole album.
As for the cover that cannot be integrated - or badly - in a WAV file.
So, I don't compress anything and try to stay as faithful as possible to the initial recording, especially from my own records.
No errors lately either, except for a faulty electrical outlet creating interference with a high-pitched whistle.
Since i discovered this, no more problems.
You know, it's very difficult to escape from the village!
Be seeing you