The vinyl sounding better is more nostalgia than anything else
Depending on how you convert to WAV there may or may not be audio compression (although this is on a much smaller scale than MP3 which was designed to be a small file format and hence loses alot of sound)
Look into lossless recording (FLAC or WMA usually) if you are trying to minimize file size and can not stand how MP3 sounds
People prefer the vinyl media because as I said,... it masks unpleasant sounds.
A simple way to experience this,... stand a comfortable distance away from a good sound system, listen for awhile, then move quite close to the speakers while reducing the volume to comfortable levels, if you have something better than a computer sound system, and have not lost a lot of higher frequency hearing capability, you will hear a difference.
CD recording evolved from the early technology to today's standards, to reduce the unpleasant artifacts recorded, much like vinyl does naturally.
My point about .wav compression, was to try to establish if there is any quality lost in converting original CD sources through compression.
There is no such thing as lossless recording, if any compression routines are involved, there will be a loss of quality, although I agree that MP3 is an extreme.
With most of the media out there today though, it really doesn't matter what the quality of the recording is.