It all depends on the licensing terms. Generally software licenses are not tied to a specific device. they are tied to a number of users (normally 1 license per user). Recently there are more licenses that are using unique identifiers to a device to ensure a person doesn't abuse there (ie Microsofts activiation), others are either tied to a device or specific media.
Let me start of by stating IANAL.
In all cases of copyright, fair use is allowed, so long as you do not circumvent any encryption. Fair use of music and movies allows you to give a copy to a friend. This includes DVD's. You can copy a DVD so long as you do not circumvent the encryption. A bit for bit copy (opening up the folder, doing a select all, and a copy and paste onto a harddrive, then mounting said harddrive as a dvd player or burning said information onto another storage medium) still keeps the CSS encryption in tact and does not violate the digital millenium act. Just like copying any other encrypted file, for example a pgp ecrypted file, one can copy it and move it around as often as they want and they are not violating the digital millenium act. This does not mean that you can share your cd's and with everyone in the world indiscriminantly nor sell for profit such copies. Neither the music nor movie studios have ever gone after anybody for fair use they only go after gross distributers trying to hide behind the guise of fair use.
Copyright infringement is not theft. Theft involves physical property. So a software pirate is not a thief because no one has been deprived of physical property. But they are still civilly liable and now criminals under current US laws.
And don't forget you can always make a copy for archival purposes. (please not this is in the US)