Get a Preamp!
I had been trying to use Final Vinyl to digitize my LP collection for months without real satisfaction with the audio quality. Whenever I would get a song recorded and into iTunes, the playback just sounded really flat, quiet and muffled through my ipod when compared to music ripped from a CD.
I went to Guitar Center and explained the problem and the guy was like "oh, you need a vinyl to line level preamp." I tried it out and things sound 100% better, comparable to that of the CD's.

When using a preamp, DO NOT use the connected to turntable button in the EQ. Rather, use the Input slider control on the main panel to raise the level, I usually set it somewhere between 10 and 13, depending on the LP. If you play with the EQ, you'll see what i mean regarding sound quality.

The preamp cost around $100 but it was well worth it, since i'm using it to transfer over 300 LPs. The phono preamp I bought is a BBE (brand) FJB 200X (model). And don't forget an extra pair of RCA cables!