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I paid money (or legitimately received the item), even if it is computer code, it is mine to do how and what I want with it within my own possession. I paid money for the ebook, copyright fair use exemptions allow me to do what I want within my own possession provided I never sell, lease or let the said item leave my possession. So if I choose to remove DRM, transfer to another device I own, copyright fair use laws allow me to do this. The DMCA may not, but that is where there is a conflict within existing laws, one law says yes, another law says no.
Modern DRM is the equivalent of my purchasing a paper book that has a legal warning at the beginning of the book stating: "The first and original purchaser of this book is required to be the only and sole owner of this book. This book either in part or as a whole may not be copied, transferred, sold, or released to any party aside from the original owner. When the original owner no longer has a need and wishes to stop ownership, it must be discarded, shredded, or otherwise destroyed physcially." Which legally goes against the very copyright fair use exemption.
The Supreme Court ruled that private non-commercial copying was Fair Use. I use this basis for my allowance to do what I want with items and material I purchased or acquired legally.
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