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Wherever DRM exists, it can eventually be broken, if there is enough motivation... Thus making the DRM useless.
iTunes? Broken. LIT? Broken. DVD (CSS)? Broken.
People wanted to break them, so they broke them. Just make it available in a non-DRM format, and let copyright law handle the people who ignore copyrights. As has been said many times... DRM will only inconvenience the legitimate user. (The same has been said for software activation/registration and other similar things, too.)
These libraries definitely have a good point. A paper book will always be usable, barring either compete degradation of the media (paper) or an inability to understand the format (whatever language the text is written in). A DRM'd file, however, may not always be usable once the DRM decoding program is lost or unusable. And then there's also the concern of the media degrading (optical disc or hard drive or flash memory), and the concern of the format being unreadable (in this case, the electronic format, such as PDF - a more legitimate concern than the language being unreadable as is the case with paper books).
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