I am not familiar with the latest version of Vinyl Studio, but after looking at it, I would go with the pro version, as the lite version is lacking a lot of features.
Spectral view helps when editing.
I would only consider recording perfect LPs in DSD or DOP, as you can’t edit DSD. I would record at 24/96.I would also consider getting a record cleaning machine.
I don’t own a Nuwave, so you will have to ask someone who does.
I downloaded the VS manual and still don’t know why you would want Cue Sheets, it might have something to do with classical music.
I think I paid $39, so the the pro at $45 is a fair price.