IMO, the RIAA can go lie down and die of syphilis ins a muddy ditch.
The bands are the ones who make the music, but the CD companies take that music, press it onto a 1 cent disc of plastic, and sell it for a 1500% profit. And of that, they give the band at most, 10 to 25 cents per CD sold. Granted the CD company has to buy the rights to produce and distribute the music, but still, they make an obscene profit.
Do I give a damn when these companies scream copyright infringement? Not one bit. But do I think this kid should be punished for selling downloaded material? Yes, let the bastard pay. It's one thing to download something for your own pleasure. It's another to sell someone else's property it for a profit, be it the property of a huge corporation or a private citizen. It's called theft. Which is illegal, in case you didn't know.
As for Copyright Infringement penalties : copyright infringement penalties in this case range from $100,000 to $250,000 per individual work. Average that to $175 grand per violation. it comes to about 29 individual works which have been 'violated'. So that's a few movies and maybe a CD or two. At most, if we're going by the 50 mil being in copyright fines.
300 million a year lost from P2P filesharing? Fat chance. They have to have illegally violated the privacy of millions of individuals per year to obtain these figures, otherwise they are based on sample-less statistical hypothesis produced by the record companies so they have something to whine about.
I use P2P programs on occasion to download music, movies, etc.. If I like what I hear or see, I go out and buy the material. If not, then I haven't wasted my hard earned money and I delete the waste of hard drive space. I have spent at least $400 on some damned good music and movies which I found SOLELY through searching on P2P (Manowar, Rhapsody, Freedom Call, Acoustic Alchemy, Andres Segovia, Ranma 1/2, Record of Lodoss War to name a few). So the RIAA has made a profit from P2P filesharing in my case. And I know for a fact that a lot of people 'operate' in the same manner as I do.
I hope the people who make the RIAA's policy on these matters suffer in the manner described in my opening line. Simply out of spite.