David J. Downs wrote:
The courts have been very clear on this issue. Once I own physical media, I am entited to use that media in any way. I am entitled to rip that media into a digital format and view it on my computer or tablet (regardless of language in the EULA). By extension, if I don't have the capability to rip the software, that doesn't mean I suddenly waive my right to view the media on a computer or tablet. Downloading a digital copy of physical media that I personally own is neither unethical nor immoral, let alone a "bad choice." It may or may not be legal, depending on who you ask and where you live. If it is considered illegal in your area, that's only because Universal wants to sell you more than one copy and has the money necessary to buy votes in the legislature.
How have the courts been very clear? As far as I know (I would love for some lawyers to chime in on this subject!), there have been no court decisions on the matter of digital copies being offered by the studios.
As for the physical media, as another poster has noted, you are not actually entitled to use that media in any way.
Additionally, I think you are confusing legality with morality; in the same paragraph in which you start off with "The courts have been very clear on this issue", you bring up that "downloading a digital copy of physical media that I personally own is neither unethical nor immoral", which, unfortunately, is mostly irrelevant to the courts. Just because you or I might find something ethical or moral does not mean everyone else does.