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Under the Fair Use Act of 2007, You Still Can't Copy DVDs
The Fair Use Act of 2007, introduced by Rep. Rick Boucher (D-Virginia) and Rep. John Doolittle (R-California) on Feb. 27, proposes some exceptions to the innovation-stifling, fair-use-crippling Digital Millennium Copyright Act (DMCA) of 1998.

The new proposal would allow consumers to skip commercials and objectionable material, and permit librarians to bypass some digital rights management (DRM) technology to preserve copyrighted collections. Big deal.

Significantly, though, it does allow for some content sharing over home networks, but you still can't interfere with DRM restrictions that prevent the uploading of protected content to the Internet. Sorry, no loopholes here for bypassing the proposed broadcast flag.

And the worst: You still cannot copy protected DVDs, so you're in violation if you're ripping movies to any of the ubiquitous media servers on the market.

Not that anyone here is doing that.

More details on Fair Use Act