Even though there's probably some murky mix of first sale and fair use that actually covers this case (you are legally entitled to re-sell and/or share your music, but copying is more murky), this would not protect you from being sued.
My suspicion, however is that the MAFIAA (RIAA) is really focused on automated scanning of Peer to Peer file sharing, and even if they happened to find this post, would not be able to prove that any bits traded hands (provided you send over a separate channel).
Dave, just for reference, your own personal version of a song is still covered under copyright, and does not protect you from owing royalties. This is why the copyright holder to Happy Birthday (Good Morning to All) is currently extorting
$2 Million dollars per year so that people can sing it publicly.
And, for the record, I think that Copyright and Patents in the United States (and worldwide) are horribly broken, to the point that abolishing both would be better To promote the Progress of Science and useful Arts.
Bradley
* bonus points for knowing where the last quote comes from.