I am not against copy protection like the old iTunes model, but perhaps it should be a bit more open platform, and not relying on one company.
I don't think P2P users should be hunted down either.
I think the record companies' job now is to help people rediscover the value of music. I sincerely believe if they see the value, they will pay a price for it.
However, there is no doubt that the future of the music business lies in other forms of money-making, such as film/tv rights, radio play, commissioning, live work etc, and not in sales. That model of money making is more-or-less dead, except for very big acts.