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Based on the posts in this thread, a large percentage of e-readers have already separated the legal from the ethical in their use of technology. DRM stripping is illegal in the US as Hellmark noted, regardless of whether you own the product you are stripping, but most people here don't seem to have a problem with it. I wonder if publishers will ever stop fighting what consumers have already decided is an ethnical use of the technology that they already have. It seems that they would be better served just letting consumers do what the want with their product, since by making common practice illegal by pushing laws like the DMCA, they are only breeding contempt for the law in the long run.
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