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I'm personally a Dropbox fan. Well along my way through eating up a 50GB plan.
As far as copyrighted files are concerned, my understanding of the DMCA policy is that Dropbox will delete anything that they get a takedown notice for. In order to get that takedown notice, the copyright holder must first know you are sharing the file and have a link to the specific file being shared. This can only be done if you post the public link to the file on a site such as these forums.
Dropbox, by default, is a private file hosting/syncing tool. Only files you explicitly share out can be seen by other people and those files are the ones you should be concerned about being deleted should a DMCA takedown notice be sent to Dropbox. As far as I know, there's no way for a copyright holder to send a list of songs, books, movies, etc to Dropbox and say "delete these off all users' accounts."
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