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Farhad says: "True. But of course that ruins your songs -- burning to MP3s and then ripping back to iTunes decompresses and then recompresses the music, introducing digital artifacts into music."
This is only true if you rip the CD back into MP3. With a standard audio CD (which you can burn from iTunes) and the right software, you could rip the tracks to lossless FLAC files and add no additional compression. Or you could rip to a much higher bitrate MP3 to lesson the compression and potential file degradation. I've done this and haven't noticed any loss of sound quality. It's not a perfect solution, but it works.