CD Burner softer

Does a burned disc using apple itunes sound quality resemble anything close to the original cd ? ( aiff to aac and back to aiff ?)

Am I missing something ?
Contrary to popular hysteria, Yes.
Do you have soundcheck on?
I agree with Ml8764ag. I've backed up almost all of the hundreds of CD I own exactly as you describe, AIFF to Apple Lossless and back to AIFF using iTunes, and never been able to hear a difference from the original.
The simple answer is Yes, if you use a quality blank CD and burn at a slow speed. !