Yes it is.
Because your friend has not paid for the product themselves, then it is classed as theft. The only reason that MP3 players are legal is because it is trusted that the music you load onto them is your own that you have paid for. The same goes for copying music onto your PC, but not your friends.
Infact in some countries, backing up your own music is illegal, which in turn would mean that by transfering music to your PC or MP3, one would be breaking the law. It seems though, a blind eye is turned just as long as no one is abusing the situation as most laws of this kind are indeed outdate.
Edited by graveangel, 28 August 2006 - 07:20 PM.