Same here, I can also give away a "reasonable" number of copies of non-DRMed tracks as gifts to friends or family (the Justice Minister said "reasonable" = about 10 copies). Sharing on-line is illegal, because you cannot guarantee that less than 10 people will take copies... Especially if it is David Hasselhof's Greatest Hits!
PCErnie, I believe that some studios do already have deals with Google over GoogleTubing videos of artists or official channels for some programmes.
That is the lines they take here, with regard to FTP sites and P2P networks.
As to CD ripping, it is legal here, as long as there isn't any copy protection on the disc.