The way I see it is, I go the path of "render to Caesar the things that are Caesar's..." That is, if it's against the law, and it's not a sin for me to obey the law, then I have to obey the law, even if the law is ... well... sometimes really stupid.
However, I'm sure God will appreciate all of our sacrifices, and frustrations great and small, that we make or suffer for the sake of keeping the law. (His and Caesar's.)
Other people have different views, I know, but... I have yet to hear a good defense of breaking this particular law. Not to mention, whether it's unfortunate or not, most of the time the artist is alive and well... in which case we are, in fact, depriving them of the payment due for their work. Which is theft.
(Even if they still have it to sell, you still don't pay for YOUR copy.)
Very few people, however, seem to want to call it like it is.