Since I probably won't hang out on this forum for too long now, I thought it was time for me to take part in one of those heated debates . I've thought of a vs. thread (eg mac/pc, thisSynth/thatSynth, emacs/vim -oh wait, wrong forum) or politics, but this one will do.
Before I subject myself to the flames, I'd like to point out something about terminology. The term "torrents", when referring to copyright infringement of digital content is misleading. It is both too broad and too narrow. It is too narrow, because BitTorrent is only one of the many vectors for copyright infringement over the internet (there are many other file sharing technologies, and, since this thread was originally about videos, you could add web2.0 type streaming websites). It is too broad, because there are loads of legit torrents out there, in fact the technology allows for many projects to be distributed without consuming huge amounts of bandwidth, thus keeping the distribution costs for these projects low (think of the many Linux Distros distributed via torrents - Fedora, or Debian to name some- or open projects such as those conducted by the Blender Foundation). So I'd suggest illegitimate filesharing (since the legality of filesharing/downloading might be debatable depending of your residence country and the specifics of your torrents' client).
More to the point, I like those heated threads because they are the place where people can extrapolate anecdotal evidence into full fledged point of views. They are also where we can make broad claims such as " Those torrents kill the creative industry" (as if the "creative industry" was a homogeneous ensemble, with one business model). Finally these threads allow to quote statistics from lobbyists -best case scenario- or from the Pulled Out Of My Butt poll center. Now I'm going to proceed and fall in those traps.
To me anectodal evidence suggest that people who used to buy music, still do, and that people who didn't allocate their resources to culture still don't. Members of the latter group have grown huge music/video collections, for free, but the way they allocate their money hasn't changed. On the other hand, members of the former group value quality over price and will buy digital contents (reasons include : better encoding, support -such as provided by Nick-, access to updates -software, or books via oreilly or pragprogs-, and simply ideology/price -eg. subscribing to MIT's online library CISNET).
Broad claim: vendors of specialized content don't suffer that much from illegitimate filesharing. The target audience for these contents is composed of nerds who wouldn't accept the very low standards usually found on illegitimate sites (side note, a few month ago I spoke to the head of the legal department of a reasonably sized indie editor/producer/distributor I used to work for, and was told that the hit they took with internet piracy was pretty marginal).
Also I'd like to point out that the motivation for illegitimate filesharing ranges from abuse of DRM on the part of content vendors (eg
http://xkcd.com/488/ to "I want anything I can get" state of mind (and I think, that this forum somewhat encourages this way of thinking, with the endless list of advice about what software to get next without even bothering pointing out the obvious fact that mastering any of those software would help alot to obtain the desired result).
Personnally I don't use cracked software, and 90% of the digital content I own (figure courtesy of the Pulled Out of My Butt statistics division), is legit. Heck I don't even have a full fledged torrent client (I do have Opera though).
This long post simply because, while I don't support so-called piracy, I still think we ought to be measured when talking about this issue and bear in mind that the ramifications of it are extremely complex (be they legal, philosophical, or sociological).
EDIT --> If you're a content vendor and plan on flooding torrents tracker, keep in mind that your image might suffer from this kind of behaviour. If you plan on more drastic attitudes such as launching DNS attacks against tracking servers, think about the possible legal implications