Searcha round, there are many posts on this. And the truth is, the law is grey, and how grey it is depends on where you live. Some of the posts touch up on Canada i know for sure. Regardless of the law, the chances of a small time user will get in trouble is slim to none, the scale is just too large, so not to worry.
But thats about right, legal to backup one you own. Not illegal if you dont own it, and you dont have the right to sell the copy.
SCPH-50001- v9 NTSC - Matrix Infinity v1.38
250GB HDLoader Dev.1 MC