Hi Joel,
I think you've confused us initially, but now it is clearer what you mean: you want one product that has a CD drive to rip CDs and store them at the same time (i.e., has a hard drive built-in), right?
I'm not an expert on this but don't think there is a product exactly like that. Well, there is the RipNAS, reviewed in the UG to New Technology 2010 (p. 80), and that's a NAS (a network-attached storage device) with a CD drive, so that can be connected directly to your home network, but I think you'd still need something to stream the music through.
But I think for your needs any CD drive and any big hard drive will do, so you could get the dedicated CD drive for the Mac Air which, I think, is no longer very expensive, and get the fastest, biggest and best-looking USB hard drive to go with it. This is on the understanding that you would stream music through your Mac. If you want to stream it directly from the hard drive, you'll need a NAS, but, again, get the CD drive separately, it'll be much cheaper!
I hope this helps and is not too confusing! (And I hope I've got all of this righ, if not: correct me, resident geeks!)
Hedgehog