Warez, plain and simple, is copyright infringement, and thus theft. Distributing warez is not a crime invented by the software industry - it's the same thing as if you bought a new novel, OCR'ed it into your computer, and then printed off multiple copies for distribution, free or for profit. I welcome open-source developments, which are leading to more freedom in the development and distribution of software, but piracy is theft. If something is bad enough that it's not worth paying real money for, go without. If it's overpriced, say so, or wait for it to come down from budget. Stealing it simply drives up the manufacturer's costs and keeps the price high.

Note: I think that many software licenses go beyond what's fair. If I buy a novel, I can do what the hell I like with it, as long as I don't break copyright. I ought to be allowed to decompile software, as long as I don't use the knowledge so gained to defraud the supplier.