I can buy a set of tracks from iTunes, burn them to a CD using another app, delete the purchased tracks from my Library and my hard drive, and then import them from the CD I burned, and AT THAT POINT the licensing terms for the music change because they are no longer "purchased from the iTunes store" as far as ANY technology can differentiate, but rather from a CD I own (regardless of how I came to own it)?
No, you cannot do that. The licensing you agree to when you purchase from the iTunes Store remains in effect regardless of how you are storing the tracks.
Or are you saying that DRM remains intact throughout the entire process and I'm violating terms (or the law) if I lend a CD to someone that I burned from iTunes purchases?
You are violating the terms of sale if you lend the CD to anyone else. You are also violating the law if you allow the person to keep the tracks.
If not, I stand on my statement: Purchased IS purchased... at least it is in the U.S. according to the DMCA.
Your statement is still wrong. You are contractually prohibited from using any content purchased from the iTunes Store for anything other than your own personal use. You can read the iTunes Store terms of sale for yourself (for the US, since you mention that country, but all the other stores have the same terms):
http://www.apple.com/legal/internet-services/itunes/us/terms.html#SALE
The DMCA does not come into play in this matter, this being an issue of licensing, not copyright or DRM.
Regards.