As part of the on-going DMCA rule-making proceedings, the RIAA and other copyright industry associations submitted a filing that included this gem as part of their argument that space-shifting and format-shifting do not count as noninfringing uses, even when you are talking about making copies of your own CDs:

“Nor does the fact that permission to make a copy in particular circumstances is often or even routinely granted, necessarily establish that the copying is a fair use when the copyright owner withholds that authorization. In this regard, the statement attributed to counsel for copyright owners in the MGM v. Grokster case is simply a statement about authorization, not about fair use.”

Part of their argument against space-shifting (i.e., making backup copies) and format-shifting (i.e., ripping to MP3) is that replacements are readily available at affordable prices. Well, let me think… If I want to make a backup copy, I can spend 50 cents for a CD-R or buy a new CD (with potentially horrible DRM software) for $15. Likewise, if I already own the CD, why would I then pay iTunes 99 cents a song for the same content?