I think a person should be paid for what they create. I have in the past taken illegal copies of media, however, since the last few years I absolutely will not. I will not even buy goods I think may have been stolen. It is just wrong.
There is no reason why you can't pay $10-$20 for a cd or dvd. There is no reason why you can't pay $30+ for a game. If you pirate, you are stealing and that is socially and morally wrong and the only reason you do it is because you know it is highly unlikely you will get caught over the internet. Bet you wouldn't walkout of a store with that CD/DVD/game.
When I see these file sharing sites go down, I applaud. When I see the industry sue some people I laugh and say good.
Now, if it is an item that is no longer available on the market, then I would say its ok since the company/creator no longer have interest. Other than that, you are just a common thief.