Fair use...
...does not include multiple copies or distribution. One back-up copy is fine and only one copy may be used at any given time. That eliminates the issue of copies. Reimburse artists/copyright holders appropriately (tacked on to original purchase price) and there is nothing to argue about. The new mandatory minimum 10 years in prison plus hefty fines for pirates fits quite well with the minor revisions required for a back-up copy.