I started downloading back in Napster days. Back then it had the thrill of sharing. Then came Mininova and bittorrent and the thrill was twofold - the ease of which media was available and a the sense of sticking it to the man.
I still do it but there is no more thrill. It is just practical - easy to grab a TV show being as I do not have a TV.
But what I have noticed is that grabbing oodles of movies and TV shows I will never watch has devalued them. This has already happened with music. I used to listen to it constantly but now just about never despite having huge amounts of it.
There is still a huge problem with content not being priced realistically but when it is priced fairly I now buy. I find that paying for it makes it more important to me. I have had to make a choice in selecting it and so it is more cherished than that which I can download for free in three minutes.
I have found that that I am very average so I expect that what I am experiencing is being experienced by others as well and that we are at a transitional point in history. People will pay more in the future. They will be choosier but they will want to pay because paying for content makes it more valuable to the consumer and reinforces what we deem in our own minds to be important.
I am not saying file sharing will go away but it will be used more to taste new artists. This all assumes, however, that content providers wise up, that they make content as easily available as it is illegally and that they lower their prices to reflect technological innovations in production and distribution,
If they don't, there is still a bit of thrill in 'sticking it to The Man'.