The best solution isn't a technical one. It's to refuse to purchase HD-DVD and Blu-Ray content and other HDCP content.
I wouldn't hold my breath waiting for someone to "break" HDCP. It's been four years now, and I don't see any "easy" cracks for Windows WPA, nor for encrypted .WMA content. The DVD industry screwed up with CSS and lost control of copy protection on DVDs. I wouldn't count on that happening a second time. Not with that "controlled chain" they have in store for us with HDCP.