Steve Jobs does a fine job at spin with his letter at. http://www.apple.com/hotnews/thoughtsonmusic/
He says.
ipod sales = money maker
itune sales = lots of work for not much money
no drm = more ipod sales
drm = music industry's requirement
Well done letter at pointing the finger at the music industry and taking the heat off of him. The last thing Apple wants is to have DRM associated with them, so if they can have it associated with the Music industry then all the better. This is a good strike to prevent the music industry releasing a DRM free player and web site combo while implying DRM was all Apples idea.
I would place my bets on that most people who steal music online do it because it is easier then buying dvd's and waiting for it to come in the mail (or goto store), copying to computer then to your player.
From my stand point is you can't stop people from stealing, you can only make it easier to buy then to steal.