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As long as I:
1) Don't distribute it.
2) Don't sell it.
3) Don't keep it past the normal library due date, then...
There is no harm. None. Zero.
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Honestly this seems reasonable to me from an ethical standpoint. The spirit of the drm, and the law, has been maintained. Incidentally I've never even tried stripping drm.
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I think you are making a primarily moral and practical argument. This is not to be confused with a legal argument. A long time ago, one of the best professors I have ever had taught me to never overlap the two.
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That professor was wrong, or at least his view is not shared by our justice system, which allows for taking into account "the spirit" of the law; otherwise we could replace judges and juries with computers.