Even though I have used cdio from the base in the past to rip and burn music CDs in exactly the fashion that you described I just find much easier these days to do ripping with ABCDE
http://lly.org/~rcw/abcde/page/. It boils down to about the same except that you are using somebody's debugged script (Ok not quite since ABCDE uses cdparanoia for ripping instead of cdio rip). By the way cdrtools port (cdparanoia is the part of the suit) has just been updated to the latest release 3.0 so everyone who runs OpenBSD current should help testing.