How do you feel about Windows piracy?

I'm curious as to what some of you think of Windows piracy. Do you think it's alright if it's only done to run software that only works on Windows due to MS's monopolistic tactics? Do you think it's alright if it replaces the purchase of a legit copy, as it hurt's MS's profit margin? Do you think it's always bad? Do you think that software should always be free anyway? Are your decisions about this based on law or morals?

Personally, I don't pirate software anymore, and it pisses me off to see my friends downloading *yet another copy of windows* to reinstall with *again*, instead of trying linux, but that's more about their lack of a brain than it is piracy.