Has the DRM for Chrome been cracked yet? It seems that having the complete data flow from the server sent packets through to the displayed data would make it relatively easy to work back and crack it sufficiently to make saving drm-ed streams to a local compressed video format possible.
Obviously you could use a modified video driver or grab the data from the actual display - the problem with that would be speed and data size.
Presumably the data stream of the compressed video is in memory at some point in the process and could be sniffed?
IF it's been cracked doesn't it show the futility of applying DRM in the first place?