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I'm not going to invest the time researching it, but I know that it has been determined that if you copy media for your personal use, do not distribute it, and do not make money off of it, it is not prosecutable.
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It hasn't been determined... only assumed and interpreted. You may turn out to be correct eventually, but until we get that actual final determination, it can't hurt to err on the side of caution. I strip DRM from my purchases, but you won't hear me swearing on a stack of bibles that it's legal -- nor will I swear under the same circumstances that it's illegal.