Copy protection hole in Blu-ray and HD DVD movies

Forgive me if I come across as being a bit cynical here, but you had to know this was coming.  It seems that the first generation software HD DVD and Blu-Ray software players allow users to take full-resolution screen captures -- which somewhat defeats the purpose of the AACS and HDCP content protection schemes. Big deal. Users can take a couple of screen grabs you say? Well, what if an enterprising programmer develops an application that can capture frames at higher-than-real-time speeds and rip the audio stream from protected content, and can then take those frames and re-compile them into a full movie that's in-sync with the audio?  It may sound tedious and complicated, but it can probably be done. And mark my words, if there's a security hole in Blu-Ray and HD DVD it will be exploited, and pirated movies will begin to crop up quickly.

"The Blu-ray Disc and HD DVD are new data carriers for high-resolution motion pictures. For fear of piracy, Hollywood had the developers install a cornucopia of copy prevention mechanisms on them. For instance, the film data on the disks are protected by means of the Advanced Access Content System (AACS). Digital output only reaches the monitor via connections encrypted by means of High Bandwidth Digital Content Protection (HDCP). This copy protection chain is designed to ensure that no unencrypted data can be grabbed. But this security chain has a giant hole."