RIAA: Ripping CDs to iPod not 'Fair Use' Neither is ripping them to your computer or making backup copies. They say that if a CD is damaged, "replacements are readily available at affordable prices". *snort*
$20 for a piece of plastic is quite affordable.
Much as it pains me to do so, since it's the closest thing I have to a hobby, I'm not going to be buying any more CDs in the foreseeable future, as I cannot continue to financially support an industry that says that my main method of using its product is illegal. Nor can I afford to be persecuted for my legitimate hobby.
EDIT: I meant to say prosecuted, although in retrospect, the original word seems pretty close, too.