Wrong - I can sell a movie dvd (or VHS tape) to someone else, I can sell a printed book to someone else - AFAIK, you can NOT sell a Steam game to someone else, but you can sell console games, but that is going away now too as they find ways to shove the EULA down customers throats (or up their.....)
re courts - acoording to Wik "The 7th Circuit and 8th Circuit subscribe to the "licensed and not sold" argument, while most other circuits do not" http://en.wikipedia.org/wiki/Software_license_agreement#End-user_license_agreement
And can you get me a Martian rock for a paperweight?
Your steam example applies to books you get through Amazon's Kindle Bookstore. You waive certain rights when you agree to certain licenses. It's something innate to the license, not to the content.
And I can't get you a Martian rock, but I can get you a GNU rock

FYI: circuit districts have a jurisdiction area, their rulings aren't full in scope

Funny, the US Supreme Court disagrees. When you buy a book, you are buying that copy of the book. That's where the First-Sale Doctrine comes from, when publishers tried to claim you were only licensing books because of the terms on the inside pages. Courts said no, you buy a copy, not a license, and are allowed to resell it because those terms are invalid. It's the same exact thing game publishers try to pull, by adding terms to the "inside" of the product (so-called "shrink-wrap EULAs"). Courts have also re-iterated things like "format-shifting" for movies and music (eg, rip CDs to MP3s or DVDs to AVIs), which is a right people have of an owned copy of a product. Video games seem to be the only one where people assume you don't buy a copy.
Also consider: copyright law grants almost nothing to someone licensing a product, compared to owning a copy. Everything from installing, to copying to RAM (an essential step to running any piece of software), to running, to modifying, to updating, to reselling... is a right that needs to be explicitly granted by the licensor. Something else this includes: throwing away. Yeah, it's illegal to throw a licensed CD/DVD in the trash if they don't tell you that you can. These rights are all implicit when buying a copy, but not for licensing.
Uh, sorry, works of media ARE licensed. You can verify this yourself by trying to freely play a movie to an audience in your local park. It's illegal under the license granted by the movie (which is personal use, not broadcast use).
First-sale doctrine isn't voided by the fact that media is licensed. It just adds a new complexity (see my link of software still falling in first-sale doctrine)