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Because the legalitiy of stripping the DRM from library books for personal use was in question, I went and did some checking.
The Digital Millennium Copyright Act allows for "fair use" with the following stipulation for the user:
“reasonably believe that circumvention is necessary to fulfill the purpose of the use.”
It wasn't specifically referring to library books, or even books. It applies to all digital media. It also didn't specify that it must be purchased media. I would, therefore, think it applies to any media that you have the right to use - including library media as long as you abide by the rules of borrowing.
Since I reasonably believe that circumvention of DRM is necessary to read library books on my Kindle, I am not breaking any laws.
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