Just like half the crap MS put in their EULAs, most of what the record industry is doing is unchallenged in court. I very much doubt I'll ever see anyone just having copies for their own use lose their case.
Until then, all my CDs have been ripped to mp3 format so I can listen to them on my computer, for my own use only.
I'll be avoiding companies like Sony, who like to produce players that can't read CD-Rs, amongst other things.