DMCA Loophole For Peer-to-Peer TV Show Sharing?

An anonymous reader writes "Fortune.com asks, "Is TV Show Swapping Legal? For those using TiVos or new Windows PCs, it just might be." Why? "The law that ensnared ... DVD hackers, the Digital Millennium Copyright Act, doesn't specifically address the question of [personal video recorders]. But when it comes to the legality of hacking digital media, the law zeroes in on 'circumvention' -- did hackers have to circumvent protection to copy the video? Several hackers who have published their techniques online say they didn't have to crack anything to extract video from their TiVos""