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Just think of how those researchers felt when the company brought the full weight of their legal teams upon them. One fellow even got sued for telling people to hit the "shift" key to prevent the auto-installation of some copy protection software on CDs. I've never heard of them going after an individual that just does things for personal use- how would they know if you don't post movies for others? Furthermore, companies' claims would likely seem specious at best in the courts. Luckily, it's still illegal (for now) for companies to spy on us so they can't really know once you bring the DVD home.
The debate is actually raging over fair use v. DMCA in the courts. DMCA clearly makes the circumvention of copywrite mechanisms illegal, but like you mentioned, this is in violation of a long standing tradition of fair use. It should be interesting to see how it plays out in a couple of years. If you really feel strongly about this, write your congresspeople.
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