Ugh, I hate that though. When dealing with MP3's it's okay I guess, but it just annoys me to hell that it pretends that it can be used to burn a decent backup copy of your CD, which it can't.
When I make a backup copy, I want it to be an exact copy, not an approximation.
Of course, that's a different use entirely than having MP3's for your iPod, or for iTunes itself.