Obviously a bit of a newbie here but I have been doing some research here and elsewhere. I found a couple of threads here that petered out just as they got interesting (darn it). I digress.

Situation: Thousands of tracks ripped from CD's into WAV on my WinTel box. Being WAV there is no embedded metadata and thus such info is inferred by my Windows database (Media Monkey) from the pathname and filename. <artist>/<album>/<track num><track name>.
Basic stuff.
So now I need to get all this into iTunes on a shiny new OS X Mac.
The problem is two-fold.
(1) Converting WAV to ALAC (or .M4A more precisely, correct me if I'm wrong) which is relatively easy. The tricky bit is...
(2) During conversion, to populate the output file with inferred metadata based on pathname info and/or retrieve extra metadata (album art for instance) from the web if possible. Media Monkey just doesn't btw.

dbPoweramp has cropped up during my research many times, so here I am wondering if dbPoweramp will be the answer I'm looking for. Is it, do you think?
I also noted the talk about dbPoweramp being ported to OS X... which is very interesting.

Thank you.