In general copyright violation as part of trade is what gets police and criminal courts involved, but that doesn't mean copyright violation for personal use is legal.
"Format shifting" tends to be not legal but ignored by everyone. In the UK for at shifting is changing status from not legal to legal. "Time shifting" was written i to law as being allowed because otherwise VCRs would have been ridiculous.
It depends on the country. Guessing from the username, sampo is propably Finnish (like myself) and in Finland you are allowed to make a few private copies of any legally produced and distributed books/media (such as a book borrowed from a library) unless it's protected by an "effective technical protection" (so, if you download a non-DRMed movie from a site where it is legally distributed, you can make private copies). Private copy means a copy used by yourself, your family or close friends.
"Format shifting" tends to be not legal but ignored by everyone. In the UK for at shifting is changing status from not legal to legal. "Time shifting" was written i to law as being allowed because otherwise VCRs would have been ridiculous.