Actually, if you bought a digital copy from iTunes or anyplace else, the terms you agreed to prohibit you from legally selling or even giving away a copy. However, it’s pretty unlikely the “music police” are gonna come after someone unless they have information from a reliable source that you are violating music copy-write laws. The reason is; it’s very difficult to prove that any digital music you possess was not acquired legally. I’ve purchased most of my music digitally for years, and it would be tough to identify which tracks I acquired from which source, or which ones I ripped from CDs... not impossible (some files contain metadata that identify the source), but very difficult. Frankly, I don’t keep receipts for the few iTunes or Amazon purchases of digital tracks, and most of my downloads are from my DJ pool site. Crazy me... I still keep all my CD’s too (in storage), but only in case I ever need to rip one again due to file corruption, which has happened.
Oh... and I usually use Windows Media Player to rip CD’s.