I don't see the reason to bother with demo software when you can use other software that does the same for free
You can use CDex at
http://cdexoes.sourceforge.net which is a very good CD ripper that this website hasa good tutorial on, or you can use what I use, Exact Audio Copy, from
http://www.exactaudiocopy.org; I prefer it because it checks several times to make sure that there are as few errors in teh copy as possible (and tells you if there are any and where they are) and also happens to still be being developed, as opposed to CDex, which is vaperware and has been for several years now. Anyway, yes, ripping to MP3 and then converting to WAV will give you a loss in quality because MP3 is a lossie encoder which means that parts of the song gets destroyed. Just doing a CD copy from Nero is also do-able and faster, but it's a little dicy because with a CD-to-CD copy there are more chances for something to go wrong, as opposed to ripping it securely to wave in EAC and then burnign those files to CD with Nero or somethign else, fewer chances of something messing up that way.