I found it hard to believe that MPAA made this kind of big error. After all, many bills in the House are based on these findings. However, I do appreciate their honesty. It is not easy to admit this kind of embarrassing mistake. I am not sure if it is a coincident but that, DRM starts to get dropped as well.

References:

http://www.newsweek.com/id/98009
http://arstechnica.com/news.ars/post/
20080122-oops-mpaa-admits-college-piracy-numbers-grossly-inflated.html
http://www.businessweek.com/technology/content/jan2008/tc2008013_398775.htm