If not is there any software to simplfy the process of writing your own .lrc files?

I use the plugin for WinAmp called "Winamp Lyrics (Explorer Version) v1.22" that's found here.

Pretty painless to use, once you understand its slightly cryptic user interface. You have to enable a couple of features, then paste the lyric into a window. Then play the song, and click on each line just before the singer sings that line. It inserts the timestamps for you each time you click. Then I save it to the file as a "Lyrics 3.2" tag.

Unfortunately, that program doesn't save to a proper SYLT tag, so I have to use Ynot's LRCTOOL converter program to convert the Lyrics 3.2 tag to a proper SYLT tag. This sounds like work, but since I've set it up on a right-click shell extension, I actually only have to right-click on the file and pick the appropriate menu item and it's essentially automatic.

Assuming I've got a good (accurate) lyric text file, I can tag an MP3 for emphatic, basically in the same amount of time it takes to listen through the song once.