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Trilarion: In the end, if you ask me, nothing, really nothing can ever beat the price of a pirated copy, unless you either persecute piracy effectively or make pirated copies dysfunctional.

There are just guys out there that wouldn't want to give a single penny even if they had more than enough dollars to buy a game.

And I don't see any reason to treat video gaming piracy any differently than any other type of thieving. Simple and clean.
You assume time is free, I assure you screwing around with something costs many people more than the money they made sitting on the toilet that day, so they hand over a couple bucks to make it easy.

You're never going to pick up high school kids with free vs. cheap, but they have low disposable income anyway and a lot of people competing for their small amount of cash. It makes sense to target people who have money but little time, companies that do this seem to do very well.