In the final article of the current(?) Stereophile, the columnist mentions that he's unwilling to follow the current common wisdom and sell his CDs after ripping them, because he likes the feeling of having them.
Disturbingly there is no mention of the legality and ethics of the situation.
I was similarly disturbed when the response to an earlier letter to the editor did not mention the ethics and legality of the practice (someone ripped and sold their CDs, and then their drive crashed - causing the letter writer substantial angst).
This practice is inarguably illegal. It is clear to me that this is also unethical - although I am certain there are many that would disagree - just as there are those that posit that P2P sharing is perfectly OK, "music should be free".