In an interesting turn of events, CSS (the "copy protection" system used on regular DVDs) is no longer considered an "effective technological method" to prevent copy protection under the law. The direct result from this is that it does not qualify for the European DMCA's anti-circumnavigation laws.
The European DMCA only bans the circumnavigation of "effective technological methods" thanks to an amendment what was pushed through a while ago. It seems that once a method is well and truly broken then it's no longer illegal to circumnavigate the DRM on your favourite DVD's, Bluray discs or HD-DVD discs.
More info here: http://www.valimaki.com/docs/finnish_css.pdf