Well, there is more to it than that. DMCA may be in violation of legal precedents set by previous court rulings regarding fair use and copyright. However, as far as I know this theory has not been tested in a court of law. That's probably because nobody is sued by MPAA for ripping their own DVDs for their own personal use. If MPAA members believed they could win, they would probably have tried it already.
Of course, they may believe they have a strong case, but think that the potential award to be not worth the litigation costs. Even if they win, the court would probably award them compensation based on perceived damages. As you have already purchased the product, they probably could not claim much if any.
I don't disagree with any of that, and I suspect that as devices such as the

TV and video iPods (and others) proliferate, the law will get challenged and I think it will evolve to allow 'fair use' of digital content (that you've purchased, for your own use, etc, etc). My point though, is that
at present it is illegal to rip copy-protected DVDs, period. I'm just trying to help people differentiate between what
is legal, versus what they feel should be legal, or what may become legal, or what they can justify to themselves, etc.
What do you say if family uses MTR or such software to their copies of the their children's dvds and store the originals away to protect them from scratchs? .. hmmm ... Because i do that also instead of re-burning to dvd,i put them on my hard drive...
RIAA has more [proof] of music thievery.. than the dmca does on the movie front..
And i know that i've not sold anything from my ripping.
The reason i do my ripping is so i don't keep re-buying movies, 'cause of scratches.. I ain't ripping off the movie studios by doing this practice, I'm protecting my investment
Look, I'm not passing judgement on anyone, and I don't want anyone to think I'm on a high horse about what's 'right' or 'wrong' or ethical or moral or anything like that -- that's for you to work out for yourself -- and I'm all for 'fair use' of content you own. I'm just trying to clarify what the law has to say about it
right now, and I'm not sure how much more clearly I can say it:
it is illegal to defeat the copy-protection on copyrighted digital media covered by the DMCA (such as DVDs), even if it's for your own use. With DVDs
it's not about whether or not you sell or share the content, it's about using the content in a way that the copyright owner is specifically trying to prevent you from doing, which includes ripping, transcoding, copying to another storage medium (e.g. hard drive), etc. Because DVDs have 'Digital Rights Management' (DRM), those things, right now, are illegal, whether we like the law or not.
As far as I know, because CDs are not copy-protected (they don't have DRM) they are not covered by
this law, although they are still copyrighted which makes unauthorized copying
and distribution illegal. This is why software such as iTunes will allow you to read and convert CDs (which in itself is not illegal under the DMCA), but not DVDs. If you
share the content you extract from your CDs, though, that's copyright infringement which is what the RIAA is going after people for.
Stated simply:
CDs: legal to extract (no DRM), illegal to share (copyrighted)
DVDs: illegal to extract (DRM), illegal to share (copyrighted)
I own an

TV, a video iPod and lots of copyrighted DVDs, and I want as much as anyone to be able to
legally use those things together, but right now it's not legal, no matter what justification we may give ('fair use', protection from scratches, etc). Luckily, the industry seems to be turning a blind eye toward people who do this for their own use (and aren't 'sharing'), and that alone may eventually be grounds for the law to change, but until it does people stand to be prosecuted if MPAA decides it wants to go after people for ripping their own DVDs. I, for one, don't want to be the guy who stands in front of a judge and says, "well, I didn't feel it was wrong so I did it anyway", only to have the judge say, "too bad. How you feel doesn't matter; it's illegal, and you're guilty." We'll probably need someone to do this to get the law changed, but I personally don't want to go through that. If you're willing to challenge the law, more power to you my brother.
Anyway, my message here is not about what I or you feel is right or wrong, or how we feel the law
should be, or anything like that. I'm just trying to get to the truth of what the law is at the moment.
Incidentally, check out the story linked
here.