The web is still a fairly new concept with many legal questions not yet settled. There are quite a few jurisdictions all having slightly different rules regarding copyrights. It is a mess and there are different angles for everything. Its all very entertaining.
Printing of websites for personal use is ok Norway like the rest of the world. Same would be using the Cybook as an offline browser. The feature suggested is nothing more than the "Print", "Save" or "Convert to PDF" in your favourite browser. Please give it a rest.
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