You guys are hilarious

Look at YOUR, keyword being YOUR, local laws. If they say it's allright. Then it's allright. If they say it's illegal, then chances are that you are one of the unlucky ones that gets sued.

Don't read on some forum and think that's the law. Look it up for Gods sake, like people have asked users to do countless times on THIS FORUM.

Whether the laws are any good, that's a whole other story. But I can assure you that if your laws say it's allright to share, then nothing more can happen then the RIAA convincing your ISP that they should terminate your connection.