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Interesting debate, but I think an important point is that the issue in the RIAA lawsuits is really not reproduction but redistribution. Whether or not ripping CDs for your own personal use is legal or not is rather a moot point; if you don't redistribute, who is going to know?
I'm sure down the road an attempt will be made to make format shifting illegal (which it already is if copy protection schemes are involved), but I also see enforcement as being extremely difficult in practice.
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