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I think the most important point to keep in mind is that no DRM scheme is undefeatable. Most of them in fact have been defeated, and the others haven't (I believe) only because not enough people have taken a crack at it. Ultimately, most of these tools are so available, that they won't even stop casual piracy.
In a sense it is annoying; many of the tools used for format shifting actually have DRM stripping built into them. I don't like DRM, but I am not going to buy DRM'd books, nor download pirated ones. But because I might need software that can strip DRM, people might assume that I do.
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Bill
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