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may depend on the jurisdiction, but AFAIK no since a pbook has no "copy protection countermeasures" you 'd need to break. (as long as you keep a proof you used your pbook for (say always keep front cover + pages n n+x n+y) somewhere in a box you should be on the safe side.
apart from that - at least in germany royalty agencies are charging a slice of prizes paid for blank media, printers, cdwriters et ct.
therefore they concludently state by this chsarging that copying without drm removal done for private purposes falls under fair use. anything else would mean they were not entitled to charge what they do.
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