Macrovision's SafeDisc version 3.1 launched and defeated?

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CDfreaks.com reports that a while ago Macrovision announced a new version of their well known SafeDisc copy-protection, v3.1. This latest version promised to protect "against hacking and unauthorised copying of protected titles" by adding some unique new features to the copy-protection! However, as dr--evil reports via our forum, it seems that the protection can quite easily be beaten when the proper hardware is used: