Court are mixed. Vernor v. Autodesk smacked down Autodesk's attempt to kill first sale. UMG v. Augusto stopped another attempt to use licenses to kill first sale (although with music rather than software). Other courts, not so nice to the consumer. In general, the 7th and 8th circuit appeals courts are the worst for the consumer (licenses can be enforced for anything), and the 3rd and some districts are friendlier (software is sold, not licensed).
Hey look you have split circuits. Maybe the SC will take a case and clear it all up.
Autodesk got shot down because they made it too restrictive and the courts ruled it a sale rather than a license because of that restriction. Autodesk made no provision in their license for recapture or destruction of the software at the end of the license, thus the court ruled it was a sale. Apple requires that the software be erased from all computers if the license and media is sold to another user meeting the requirement for it to be a license. Vernor was also ruled never to have been a user subject to the license, having never agreed to the license since he bought the unopened software at a garage sale and was merely selling it on eBay, still unopened. The court noted in its ruling that Autodesk may have had a complaint against the original buyer who DID agree to the SLA when the installed the software they used and sold the unused portion from the bundle the bought. . . but not against Vernor as a defendant.