I don’t have much to add to the blog I read on this so go and read it, except to point out that, once more, the world outside the US doesn’t exist:
His [Bill Gates] short term advice: â€œPeople should just buy a cd and rip it. You are legal then.â€
This, of course, is simply not true in the UK and, no doubt, elsewhere. Though, once more, I do invite copyright holders to prosecute me for ripping my entire CD collection. And putting it on more than one machine.