I positively love my iPod!! :inlove:
You certainly can burn CDs with the iTunes software or you can access and burn them with Windows Media Player.
The ONLY drawback I see with iTunes/iPod is it transfers files in MP4 format. iTunes wont let you import mp3 files you obtain from other services to your iPod. There may be some way around this, but so far I havent been able to figure out how to add mp3 files to my iPod that I download from Soundclick or other sources.