I had a fun afternoon using the Album Art Aggregator in combination with FastStone Resizer. Most of my music ended up with art, and I listen to a lot of weird crap. Neither of them were completely automatic, though.
AAA combs the Amazon of your choice, downloads a few possibilities, and you have to choose which one you like (the program automatically saves it in your album folder with the filename of your choice). I didn't have to fiddle too much with its choices, which was a pleasant surprise. Here and there I've been able to find better quality images via Google Images, but if you have a ton of music that needs covers, AAA is pretty slick.
Then FSReisizer went though every folder on my iPod and sized/converted all the images...including images I didn't really want. I was very careful with the options, since I didn't want to have all the photos backed up on my iPod sized to 200px square.

As a last step, I used Windows's "Search" function to find all the non-"cover.bmp" images, selected them, and deleted them. Yay.
Lyric-wise, you're on your own (sorry).
Programs here:
http://team.thenexusnet.com/nexus/AAA/http://www.faststone.org/FSResizerDetail.htm