Here's my opinion - GET OVER IT!! It doesn't matter. Go talk to anyone below the age of 25 and you'll find out they don't care. The majority don't see material (once broadcast, put in print, pressed to a DVD/CD) as copyrighted. They don't understand the issue and what the big deal is with it. These people have grown up with the internet, open source, copy/paste, etc. -- it's second nature to them.
The question isn't about copyright protection, it's about revenue protection (that's why the laws were enacted in the first place). It's not about getting proper attribution for your work, it's about making money. In my mind, those yelling the loudest are the ones that understand the least about the issue. These companies are tripping over dollars to pick up pennies. Do I believe in intellectual rights (yes I do). Do I believe people should be able to make a living off their creations (yes I do). Do I believe protecting this intellectual property is important (yes I do). Do I believe you can control it by shutting down sites like YouTube (no I don't). Do I have an answer to the problem (not really).
But here's where I diverge from some of the people wanting their pound of flesh from YouTube -- there's a solution, but it's not about shutting down the site, or making YouTube completely responsible for the content. There are plenty of copyrighted videos on YouTube that those copyright owners are happy it's there. It's another channel for new customers.
With all that said, now enter Google (and their stores of cash) - with a big brother like that, YouTube can now get back to provide solutions and not worry so much about spending the next few years in a court of law.