I don't download movies. Music, yes. Here is why:

1. I don't feel bad about taking intellectual property.
2. For 99% of the music I have, if I didn't download I wouldnt buy it from them anyway.
3. Thus it isn't taking profits away, as I am not stealing cd's. All this stuff is already shared on the internet, so adding one more person who has it doesn't matter.
4. If I went and bought all the cd's I have tracks from on itunes(for me that would be 1,200 cd's), I would spend 1200 x $15 = $17,000. That's absurd.

note: I'm aware their are many holes in my reasoning, and reasons why it's still wrong to take it.