First of all, I will start by disclaiming I do not support piracy. And as anyone knows, if someone posts any kind of pirate link or anything else flagrant like that, it gets deleted. But of course, you all knew that.
Now...
I do not intend to stand and ponitficate and talk about illegality, etc. What gives me the most grief is the "I'm not hurting anyone" philosophy.
The hardest thing for people to find fault with electronic piracy is that they are not PHYSICALLY stealing money from someone. It's like insider trading; you aren't doing anything but getting the news before it affects the market, so you don't PHYSICALLY see the morality issues caused by its use. You aren't physically taking candy from that baby; you are instead causing damage that isn't tangible, and therefore it looks as if no harm has been caused - until the people producing said work are gone to greener pastures.
The Dragon "Dork Tower" strip is perfect in demonstrating this; it's all too easy to miss the companies who literally live hand to mouth with their product, or those who do it as a hobby so long as it pays for itself. Take even the slightest cent in profits from them, and it's one more nail to hold the "closed for business" sign in place.
Take Monte Cook, for example, or Bruce or Skip. These are genuinely nice guys - i've spoken with two of them at 'cons before, I've talked with Monte online numerous times, and all three of them are gamers, just like me. They got bills to pay, just like me. They produce products they spent time playtesting, editing, correcting - just so I could have something that no company like WotC would ever touch, because WotC could make no money from it.
Suppose I turn around and freely distribute that which they make their livelihood from. NOT a competing product, but the actual product that they wrote, edited and prepared. I turn around and give it away as much as possible. What does that say about my opinion of them? What does it say about my worth as a human being?
Answer: not damned much.