what a rip

I just saw this ad for rip digital which offers to save you the "hassle" of ripping your cd collection and converts it to an Mp3 library for use on your your ipod. I don't get it, ripping cds onto your computer is not a difficult proccess. If you have a copy of itunes all you have to do is insert the cd and it automaticly downloads the disc info (artist/track name etc.) and your music is ready. Each cd takes no more than a few minutes. I could see a potential market for converting tapes or vinyl into Mp3 because this requires a little bit more work. This service seems like a waste of money to me...what do you think?