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There was a proof-of-concept breaking of WMV DRM a while ago, called FreeMe, but the vulnerability has since been patched. The only way I know of right now to un-DRM movies is to play them back and recapture, either through screen/frame capture programs or putting the video output back into an unprotected video input (I don't think much hardware supports MS DRM... Music players, maybe.)
I have faith that some method will arise as these things become more prevalent. People won't stand for not being able to control their own media.
Bingle
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