I believe it is a matter of property rights. At the end of the day, the companies own the rights to the song/movie/game/whatever. Just because you buy a copy, it does not make it your property. What in effect is happening is you exchanging your money for a licence to use the property. So, no, I don't agree with this "I bought it, it's mine", because that simply isn't true.
That said, I don't agree with bills like SOPA and PIPA, either. Property claims should be done through the civil court, and property in terms of say, a song, is no different to property as say, your front garden. If somebody drives their car through your front garden and smashes the place up, you can take them to court on a civil matter, and attempt to sue them to gain financial compensation.
I see no reason why piracy cannot work like this. A company has reason to believe you're pirating their shiz, they take you to court and sue you (no fines), and the judge determines the damage and the amount that the defender should pay.
Piracy is a matter of property rights, and should be handled as such. Personally, I believe the record companies make terrible business decisions through things like DRM, region locking (actually there is a sound logic behind this, if they're still selling in all markets), and other activities, but as they are the property owners, it is their decision to make.
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