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Personally, I am ok with DRM stripping of rental and library books, as long as you still respect the terms of the rental/loan agreement otherwise. That meaning, when the term limit is up, you delete the book.
Reason for DRM stripping could be for format shifting to devices unsupported, as someone else mentioned. Most rentals you see are for textbooks, and quite often the DRM used prevents it from being used on something other than a PC. I know with quite a few of the text books for my school, only Windows and OSX are supported for the apps to read the books' DRM. Some are Windows only. Being that I use Linux, have an ereader, and two Android devices, I do not think it is unreasonable to use it on one of my devices if I paid the publisher for the ability to use it, and they do not support anything I own. I am not asking to keep the book forever, or give it to all my friends. It is especially funny I think, that I am a Computer Science major, with an emphasis on Linux systems, and the books needed for my classes cannot be read on systems that the material covers.
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