To tell you the honest truth, I think that technologies such as P2P are moving way ahead of legislation when it comes to media. Because of the ease of peer to peer in being able to get media very quickly, more and more people are going to use it (as I myself do) just due to the fact that demand outstrips supply. If you can see a new TV show tonight, why wait for tomorrow?
The problem lies with the distribution. How can the production companies tap this new market? So far, I think their greed and antiquated ideas are hampering the opportunity this new technology affords them.
Any ideas how the music, television and movie industries can leverage this market share?
The only solution I can think of is to have some sort of ISP levy. After all, what are clients doing with their, for example, 80 GB per month download quotas? That's a lot of YouTube!
It's time to stop prosecuting and start thinking and innovating in my opinion.
Personally, when they come up with a reasonable model to charge for P2P (or whatever), I'll be all for it and pay my share.
After all, on demand will be the future, like it or not, and eventually there will be a solution that gives artists and IP owners their fair share.