Most encryptions can be bypassed by (basic description) taking the output, the actual sound waves, of an encrpted file and recording them, not just converting the file. Kinda like taking a macrovision VHS tape, sending the signal to the TV, then taking the TV's output and sending it to another VCR, effectively bypasing the macroguard. The music Co.'s are gonna have to do alot more than what they are doing to defeat piracy. I personally dont think it will ever happen, they might discourage the casual, idiot-proof downloader programs (Kazaa, Napster, etc) but hardcore downloaders will always be able to get free music.

"Moore has also accused the American people of being the stupidest, most naive people on the face of the Earth. And after last weekend, he's got the box office numbers to prove it!"