I have actually asked Rav Yisroel Belsky this question and his answers was that its stealing to copy music from someone else instead of buying the cd. To those who say that u wud not have purchased it, who said? If u are copying the music, them u obviously like it and may very well purchase it! Honest yidden try to make a parnassah and we prevent them from doing so by copying music from other people. Rav Belsky told me that u already bought the cd, and u wanna copy it so u cud have 1 for the car, and 1 for your house, then its mutar since u wudnt have bought another 1 just for your car.
Theres a psak halacha from a Gadol with out any of us coming up with our own opinions.