What has not been mentioned so far is the issue of product that is no longer available on the market. Record labels take product off their catalogues and it is no longer possible to obtain a particular performance by a particular artist.

In the software and games arena this is akin to "abandonware"

Whilst the legal copyright still exists, the holder is no longer selling the product, and no longer gaining revenue from it (except for the artist, through the Performing Rights Society, for commercial and public performances).

In this situation, whilst it is still technically unlawful to swap the copyright material, my personal view is that it is morally acceptable. After all you could obtain a second user copy and neither the artist, nor the record label would make a cent out of the transaction?

I suspect that no action would be taken, as the courts over here would demand to see "losses". I guess they would get £0.01 in compensation and you would be awarded costs. Our courts take a very dim view of "frivolous litigation"

I strongly suspect that the same applies to promotional material, as its price was £0.00...........it was given away?