Reply to 2 questions for the s4....

Hey all- I'm new to controllerism as I have always used vinyl. Got the s4 and LOVE IT!! But there are 2 things I haven't seen in the discussions:

1- How can I record my own mixes using the s4 software? I understand recording loops and layering them but I'm talking about hour long mixes and how do I edit tracks? i.e. track 1, track 2, track 3 etc??????

2- Can I hook up my turntables to the s4 and convert my vinyl into mp3's and add them to my itunes library???

Thank you guys in advance for your help. You guys rock!!