Spend $100 and get a real USB turntable. It will come with software that will make your life easier.
What software does/did yours come with?
I've used Audacity and have to say it's got some pretty powerful features for editing audio. And it's free.
Also, in your experience, do you think that the data transfer on the USB is superior than bringing the sound in through the microphone jack on the sound card?
In the past, I've run my old turntable through an amplifier and in through the mic-in. Sound quality is pretty good, but I'm also dealing with some old old vinyl that has some warping and scratching. I could also probably use a new needle.
And do you have a recommendation on a USB turntable? When I looked at USB turntables a few years ago, my concern was that they seemed relatively cheap compared to the high-end turntable I bought oh so many years ago.