@OverAmp and others still defending copy protection:
No matter what method they use to protect the software, it's always gonna be software, and even it's hand-coded assembly (which AFAIK a lot of the AxeFX code actually is), it is possible to edit it to work around the protection. If it's complicated, but it's tied to a piece of hardware, you can write a driver that fakes the device, as Team H2O has done with Cubase SX3, and as has been done with a lot of the iLOK protected software.
Once it's cracked, it doesn't really matter how complicated the protection was. For end users, it's just an installer away from free software that you'd otherwise pay a premium to own.
IMHO it's just a waste of money to build something beyond a simple serial key algorythm check that stops regular users from sharing their install CDs with friends and over the internet.
And just to cite one example of a company that sells something easily spreadable but trusts their user base not to, the Recabinet guys are making a decent ammount of money selling .wav and .syx files without any copy protection whatsoever, and I haven't even found a single torrent for that. I bought recabinet btw, not because i couldn't find the torrent, but because I enjoyed their product and service.
Best,
Alex