Ripping speed is invariably limited by CD rom drive, it's an extremely non-compute intesive process and FLAC encoding is just about the easiest thing you can do. My rips take slightly longer on my current i7 laptop than they did my old core based laptop as the drive is slightly slower.
Error correction adds time as any errors get reread a multiple of times, but on a completely error free disk should take approximately the same ammout of time to rip as with error correction turned off.
As for software I don't have a suggestion for an all in one solution but I personally use EAC [Exact Audio Copy] to rip my music, and XBMC for playback. EAC does the tagging properly, and does add replaygain information to the FLAC files, and XBMC does read replaygain information. Technically XBMC will rip CDs strait to FLAC, but for no real reason a tall I don't trust it. So technically it could be an all in one solution?