Uhh. Maybe I'm missing the point but. It seems to me your real concern is with the amount of time it takes to rip a CD. I rip CDs at 12x. That is a CD copied onto my HD takes just a few minutes; if I copy it twice -> the unix "diff" command things they are the same binary file. The secret?? A CD reader that is meant to enable you to make bit-for-bit copies of CDs. Here's a link for ya.
http://www.plextor.com/english/products/product_cdrom_drives.html [notice this text: 'Capable of high speed Digital Audio Extraction with "bit-by-bit" accuracy' - they're not exagerating].
Now maybe you really are stalled on your compression scheme and not the reader/rereader/rerereader. I rip APE only and in normal mode only (4000 tracks from my 400 CD collection). Fortunately the compression and ripping happen simultaneously and end reasonably close to each other - with plenty of variation by album [meaning if I waited for compression to finish after the reading finished, or, if the compressor kept up with the reader..track by track].
BTW if hard drive space and transfer bandwidth is not a concern - forget mp3, forget VBR, forget ogg - use Monkey's Audio APE format. The thing about ape is that while it is a compression scheme, it is a non lossy compression scheme [zip is also a non lossy compression scheme]. When you play some.ape file you end up playing the bit for bit identical file as if you were listening to the CD.
And now for something completely different.... listening to an APE file made from a bit-for-bit copied CD results in BETTER playback quality than playing the CD in your stereo. I'm sure some of you are already certain I'm wrong - crack the mind open a sliver and read on.... it turns out that a CD reader in a stereo system does not do a perfect job of reading data, it misses a bit here or there and cludges it to make it sound right; my computer has enough time to read and decompress the audio data stream dozens of times until it gets a read from hard drive with no data errors - and sends the stream to my pre-amp (digital input over RG6). Don't believe me? That's ok!
Have fun!