The current version of iTunes, 7.1.1, has been cracked by the creators of QTFairUse6. QTFairUse6 allows for you to strip your iTMS-purchased songs of their nasty DRM. Currently, the software is only for Windows, so us Mac OS X users will have to wait until someone makes a version for us. Chances are Apple has already been informed and iTunes 7.1.2 is in the works as an update. So if you hate DRM and want to be a pirate, download QTFairUse6 and get strippin’.
Official Site/Downloads [Hymn Project via Boing Boing]