I think the one we have now is doing a fantastic job. The record labels are failing miserably to adapt to the new reality, but that has nothing to do with the copyright system. It's with their own disincentives to adapt (a complex subject I will talk about tangentially soon).

I think the current copyright situation lets citizens do pretty much whatever they want and prevents corporations from infringing on creators and IP owners. That, to me, is perfect.

Corporations, for their part, went a little further than they had to with the DRM (which had nothing to do with our copyright system) and are finally starting to come to their senses.

I'd say the whole thing is working very well.