Nothing legal will be out to defeat the HDCP algorithym.
I would only expect ANY HD-DVD/BD player to output over HDCP protected HDMI or DVI. Most likely HDMI. This doesn't bug me at all, I want the best possible image and I'm not planning on hacking a darn thing, so what does it matter to me?
Okay, yeah, my projector will have to be upgraded... but it is as good of an excuse as any.