Backups are permitted. Home taped compilations are legal (you've paid for your own copies of the songs). Giving a home taped compilation to a friend or loved one may not have originally been "fair use" but the industry turned a blind eye to the practice and it became an aceepted act. Does their refusal to prosecute set a precendent that leaves this as an open loophole to copyright violation? I don't know.
I see albums in the future being called "software". Add some lyric sheets or mpg videos to the disc and they are CD-ROMs. When you buy a CD-ROM, typically there is a "user agreement" that is "agreed" to when you open the seal. That "agreement" prevents you from loading that software onto 2 machines (even if you own them both) and prevents you from selling that software as "used". Ebay acknowledges this and will stop any auction (especially Microsoft) that has a software sale (including sealed software packages) that does not come from an "authorized" vendor.
There are some whiney artists who dislike the whole idea of used album sales because it cuts against their own sales figures. Some like Garth Brooks had their labels suspend promotional money from stores that sold used CDs.
The industry does not care what your "fair use" or rights are. Money is what they want. Your money. If you aren't giving it to them, they don't like you.