There are fundamental differences between analysing a story and cracking a game. One is intended to be done (by good writers, anyway) and the other is not. Much of the value of a book lies in analysing the different levels on which the story works, and how different themes are portrayed. On the other hand, cracking the security features of a program is not necessary for it to be used as intended. It is generally only necessary when one is attempting something prohibited by copyright.
Your comments are imply a value judgement (good writers analyze stories, but somehow only evil pirates crack security protocols.) If a security feature of a program makes my computer more unstable, or causes undue wear to the hardware, or otherwise impedes the efficient or normal operation of my computer, then I should have the right to remove the said security features. Remember that its stil MY computer, regardless of the status of the software (which is, of course, under debate.) I should be able to reverse engineer the security features to ensure tha the software itself isn't doing anything illegal or violating my privacy. (For example, if a publisher uses a product activation scheme as a innocuous looking backdoor to distribute child porn, and they find that stuff on my computer, guess who is going to jail? At the very least, I would need to reverse engineer the activation scheme to prove my innocence.) I should have the right to reverse engineer a security protocol to make fair use copies of the work. Fair use copies are not prohibited by law.
Copyright law stays clear from value judgements anyhow, with the exception of the fair use clause. Copyright law focuses on specific acts: Public performance, display, and reproduction are reserved to the copyright holder. But private normal use of a work is implicitly reserved to the owner of a copy. I firmly believe that any attempt to limit my use of a software product infringes on my rights, as much the same way as any copies I make and give away infringes the publisher's rights. Copyright law does NOT allow a publisher to control private use, or limit use under any criteria, including the intended purpose of use. And IMHO since private use is not something that the publisher gets to reserve by copyright, then such use is out of bounds of being controlled by any EULA, regardless of whether you believe the software is licensed or sold.
Running private servers: the unauthorized copy problem would exist on any private server, unless the person running it also duplicated the legitimate server's authorization processes and had a comprehensive list of authorized copies. That's extremely unlikely to ever happen. You DO see private servers, but some games allow them. I've seen games that actively encouraged them. That doesn't mean it's legal to do so without the copyright holder's permission.I see you belong to the "EULAs aren't valid" school. If the software was owned instead of licensed, what you said about resale would be true. But since the consumer does not own the software, the publisher retains resale rights. If this were not true, every person who bought a game that prevents full resale (basically, any DRM you can think of, including Stardock's) could and should sue.
The authentication issue that you noted with a private server is a recent thing, thanks to the anti-circumvention clause of the DMCA. The section on anti-circumvention does not make any exception to intended use or purpose, so liability is incurred even for lawful uses (hence, why this section is so controversial.)
Ultimately, the supreme court will have to decide whether software is sold or licensed, because there is a long string of court cases that support both sides. However, I believe the court is likely to be conservative and treat software like all other copyrighted works--i.e. sold, not licensed. With competent lawyering, a licensing scheme will be seen as a loophole to unfairly remove fair use and other statutory rights from the user. Furthermore, many states have specifically amended their uniform commercial codes (remember the whole UCITA debacle?) to specifically state that a mass-market software product is a good that is sold.
And yes, in the context of software, selling used copies can often qualify as piracy. Most people don't think of it as such, but it can be, depending on how the license is written. For example, Blizzard explicitly ALLOWS resale for Diablo II, but not for WoW.
My point is that a software publisher has NO right to control resale at all. And this is a principle that's been reinforced time and time again-- you can bet that book publishers and music publishers have tried to shut down used book stores and used CD stores, but they have always failed. The same principle should apply to software-- notwithstanding any attempts to call the transaction as a "license" as opposed to a "sale". A software publisher should not have the right to fundamentally alter the nature of a transaction that is essentially a sale, simply by drafting a document in the box and suddenly calling it a "license".