Mike,

Launch iTunes (from the dock).

Click the Help button; click iTunes Help.

Click Contents, then Burning a CD.

It's pretty simple and the instructions are quite clear.

Note, if you want to share your newly burned CD with a Windoze user or if you want to play the CD on a regular CD player then you may need special format(s) not available from iTunes.

Check out Roxio (formerly Adaptec) Toast

http://www.roxio.com/index.jhtml