For those folks who are just bumping into this, the virtue of things such as CD Copy Protection and CD-Keys has been in debate for a while now. Way back when some very arcane copy protection methods were tried out (Anyone remember the pie-chart code things that came with some manuals?) and it turned out that games that did well had little copy protection. If people want your game they'll pay for it. If they're going to pirate it they wouldn't pay for it in the first place, and if you make your CD protection onerous you don't hurt pirates (Who'll bypass it.), you hurt you legitimate customers, who have to deal with the insane copy protection your paranoid delusion has created.
Stardock has had an interesting philosphy on Copy Protection. Here's a little piece on it. http://www.gamespot.com/news/6145864.html You'll note that even after the little incident they didn't change their policy and the game sold very well.
While I'm surprised there's no CD-key in the box, I fully applaud sega for ending the disc in the tray BS. My DVD drive is not an expensive dongle key, dammit, and we all know full well there's gobs and gobs of free tools that would let me bypass such sillyness. Now your legitimate user can go and play his game on his PC and his laptop without having to delve into tools that would be second nature to pirates.
As for CD-keys. That wouldn't have stopped anyone anyway. CD-keys have been around for a while. The day after the first CD-key was made the first CD-key generator was made.
Oh, and since it's been mentioned: You've always been able to make one backup archival copy of software you own under US copyright law. Let me re-iterate: If you by /any kind of media/ it's perfectly legitimate to make a copy of it for yourself. This is why you can have a VCR, or photocopy a page from a book you own.
The only sticking point to this are cases where it's stipulated in EULA's that you can't copy (Since you don't buy the software, you "licence" it.) However, to my knowledge no one's ever been brought into court over making one personal backup copy of software which broke an EULA, especially since there's a fair chance the ruling could simply invalidate the current incarnation of EULA's.
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