trash the ipod and get a sandisk mp3 player. i have one and love it! it needs no special software. i just drag and drop my files right onto it. i pity anyone that doesn't have one. it's literally that simple. sorry i can't help you more than that.
PS what was this good cd you bought? and why are you buying a cd when you have an mp3 player? i no longer pay for music, ever.
when you turn your bike on, does it return the favor?
A lot of the new CDs have a little exe file on them that you can run. That will give you an interface that will allow you to rip the songs onto your computer (most likely in wma format). Once you have them in that format, there are several ways to get them into mp3 format, if that's what you want. I do have an iPod, but I hate iTunes, so I'm not familiar with what audio formats it will support.