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Is iTunes copy protection code 'cracked' ?

Jon Lech Johansen (a Prominent hacker) claims that he has "reverse engineered" the FairPlay system, meaning.. the code that prevents music downloaded from Apple's iTunes store being played on any portable player other than an iPod has been "cracked".
In the past Mr Johansen has distributed various program ( and their updated version) to bypass the Apple systems, ( eg.. QTFairUse in 2003 ) These programs were distributed on the web for free, but this time there is twist.

His company, DoubleTwist said that it planned to license the code to other digital music player manufacturers, ie., Mr Johansen and DoubleTwist plan to commercialise the technology.

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