Yes that would be quite easy - I could do it with a sledgehammer approach in a DOS batch file right now - obviously this example would only work for upto five tracks but you get the idea. Saves reading/parsing a directory listing.
if exist Track05.wav goto 5TRACKS:
if exist Track04.wav goto 4TRACKS:
if exist Track03.wav goto 3TRACKS:
if exist Track02.wav goto 2TRACKS:
if exist Track01.wav goto 1TRACK:
:5TRACKS
lame --alt-preset standard --nogap Track01.wav Track02.wav Track03.wav Track04.wav Track05.wav
goto end
:4TRACKS
lame --alt-preset standard --nogap Track01.wav Track02.wav Track03.wav Track04.wav
goto end
:3TRACKS
lame --alt-preset standard --nogap Track01.wav Track02.wav Track03.wav
goto end
:2TRACKS
lame --alt-preset standard --nogap Track01.wav Track02.wav
goto end
:1TRACK
lame --alt-preset standard Track01.wav
goto end
:end
Yuck - very very ugly (I only have limited DOS scripting knowledge) but it would work.
It still doesn't get around the issue of tagging everything by hand though which is my major gripe. I am considering modding CDex since it's open source but I'd much rather use EAC to rip.
Basically the script/program would need to read the directory listing, rename everything to small temp file names, encode using LAME and then rename the files back to their full names. I'd still need to generate the tags from the filenames but it would be better than typing them in by hand.