Looks like Morpheus & Grokster are back in court, pleading their cases against the RIAA. I personally don't think the outcome can be good for the P2P companies. I mean, you have enough money & time, you can buy all the lawyers you need to win your case.

"In April 2003, U.S. district court in Los Angeles ruled that Grokster and StreamCast Networks cannot be held liable for the copyright infringements that are taking place using their software. The entertainment industry disagrees."