I actually have a different take: People will not pay for what they can have for free that is reasonably clear of any legal action being taken against them.
The only thing that stops me from ripping all the DVD's at the library is a sense of "I don't own it, I will basically agree to the social contract that is the spirit of getting it from a library or renting it".
Any thing else is just an excuse to do what you know is already wrong.
There's a reason I said software. Entertainment products, like why I mentioned video games as an exception, are an exception to my view.
Again, someone who pirated Photoshop CS3, for example, was not likely to buy it in the first place.
Oh, for the forth time, it's not a justification, it's not right, but it is a statistically proven fact that the piracy of, ok, productivity software rarely equates to lost revenue. Movie, music, and video game piracy CERTAINLY does.