[Five]

it will be lossless... crappy lossless. you could play it back on a speaker and record that with a $1 mic and that also would be "lossless" (meaning not mp3 or similar involved).

You can get a decent tapedeck off eBay for $20 or at least something that has a lineout from a yard sale for under $10. There is no excuse for not making a better transfer imo, if you love the music you owe it to yourself and anybody you're gonna share it with to do better imo.