Recording a film from TV is copying as well, but that was litigated all the way to the Supreme Court, which ruled that it was legal. See
https://en.wikipedia.org/wiki/Sony_Corp._of_America_v._Unive.... , AKA "Sony v. Betamax".
That seems like a fairly clear precedent.
Also see Sony v. Connectix for a somewhat related case regarding emulation and BIOSes. In that case, Connectix obtained copies of Sony's BIOS as part of reverse-engineering it (though they didn't distribute BIOS images with their emulator), and that was ruled legal.
That seems like an even clearer precedent, specifically discussing emulation, as well as copying, for commercial purposes even.
Now, it is fairly clear that sites hosting ROMs for download are violating copyright law. Then again, so is the Internet Archive, and I'd bet the majority of people on HN agree with what archive.org does.
> Legality is really tangential to the point, however. The question is that for any given work, whether that's a book, piece of music, game, etc, do you "own" that work seperate from the physical media you purchased it on. Can you obtain a ROM, a copy of the book or a copy of the record in question legally in perpetuity because you bought it in one form once?
Personal opinion, not based on any particular country's copyright law or precedent (though there is some precedent): personal copying without redistribution should always be OK. It's distribution that copyright should cover.
(That's separate from my opinions on how copyright law ought to be changed.)