Yes, if it makes you feel better I will do this only for albums I have purchased :-)

If that's the case, why not rip and encode them yourself?

My personal belief is that these file sharing networks are copyright violations although I also believe the MPAA/RIAA et al. are blowing it way out of proportion. I see nothing wrong with ripping songs from your own albums for your own use (I do it all the time) or with sharing with friends but I find it a stretch to claim that everyone on the internet is your friend.