You can copy physical books for storage/otherwise personal use IIRC so it's not quite as locked down as a DRMd book. Not sure what the legal state of hand copying a book and then loaning it out as it probably doesn't come up much.

I mean really? Oh I can't see someone heading down to the copy shop to scan every page of war and peace and then print it out when you can get a used one for less than the paper cost..