Convert your old vinyl records to CD's or MP3's.

Here is an inexpensive turntable that lets you easily record your old vinyl record collection to CD or MP3. The turntable comes bundled with Audacity, a recording application that works with both PCs and Macs. Although the turntable can work with any software that supports USB audio input (such as Apple's GarageBand).
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Craig's Note: I bought this turntable for myself about three months ago with the excuse that we'd write it up as a tip before the end of the year. Well the end of the year is coming soon.
Source: This tip inspired by some last-minute holiday shopping. Excuse the frivolous nature of this tip. Happy holidays!