Thinking about selling my CD collection = MP3


I am having serious thoughts about selling my 1,500 or so CD collection and going to MP3 playback format. At one time I use to have the time and sit in front of my system and really listen, I mean sit and really get into the music. Now with two kids, and the band that I play guitar in, there is simply no time. My listening consists of in the car or in the house while I am doing something else. I am thinking about ripping my collection to my computer, selling the CDs and my CD player and using a large storage MP3 player as my source. Any thoughts? Anyone else out there do this?
gretsch6120
Here is what I would do, copy them all to your hard drive as lossless wma or mp3 format and then eventually save them on DVD-rom dics. DVD roms when scratched don't suffer the same way cd's do and you won't have to keep all your music on a hard disc that might crash, in the future when you do have the time you can "listen" to your archived lossless music archives on a audiophile quality universal player that plays mp3's or wma files. The lossless files should sound as good as your CD's now and scratching the discs won't affect the playback.
Heck if they are not interested then I am! What CD's do you have for sale? Will you send them to Australia? :)
An update. I am almost complete with ripping my CD collection to my computer. It has been going very smoothly, just doing a few at a time. I purchased two hard drives, on internal and one external. So I am saving the mp3 files to three locations, my computers main hard drive, and the two extra ones I purchased. I also just purchased an 80 gig iPod, so I am storing them to 4 locations. I listened to my iPod this morning on the way to work, it sounds fantastic connected to my cars system! I am more that pleased with my decision to go with mp3 audio.