Rip CD to MP2 and WMA in one read

I have several hundred CDs that I need to rip into both MP2 and WMA formats. I'd like to avoid having to read every CD twice.

One option would be to rip to one format, then convert the resulting files to the other format. But this means using a lossy format as the source for another lossy format, so I don't want to do this.

Another option is to rip to a lossless format, then convert to the lossy formats. I tried this using WAV, but I ended up with no ID tags in the MP2 and WMA files. Is there a way to do this WAV and still have ID tags in the final files? Is there another format that I could use instead of WAV that would allow the tags to propagate? Alternatively, is there an easy way to insert the tags after the fact?

I saw Razgo's explanation of how to do two rips in parallel, but that method still reads the CD twice. In fact, it seems to be slower than ripping twice because of all of the seeking that happens. Also, I couldn't get the second rip to put ID tags in the output files.

Any ideas on how to do this? If I'm missing something obvious, please enlighten me!

Thanks,

-- ctl