Well as for my view, if stealing the CD is less of an offense then simply clicking a link and downloading the CD, then that's just not right one bit. I agree to the fines, but not the half-million fines that ruin people's lives. It's just downloading, it's not murder. The fine should be no more than 200% of the actual cost.
I mean, look at it this way, a speeding ticket is a mere $200, speeding could of murdered people. Downloading 30 songs is a $500,000 ticket.
I'm extremely against the fines for pirating, but not pirating itself. iTunes is the worst place to get music and I really see no point to downloading mp3s, how do you know if those songs were pirated or not? The rules make no sense at all for how they can catch you.
Anywho, let's not rant here, but I think prices should be extremely dropped on movies and music if they wanna lessen piracy. If you think about it, the cost to physically make a copy of an album is probably only $3. And you pay like $15. So... Yeah.