Just to let you know, it IS illegal - Using copyrighted code without the permission of the author (which you would be doing) is illegal.
Take a look at the DMCA (Digital Millenium Copyright Act) for more information.
We collate websites using this, and periodically file DMCA notifications to their webhosts, which at the very least results in removal of the mod, and often leads to the hosting being cancelled without any refunds (DMCA violations are against almost all hosts TOS)
So the people who take the risk, usually end up regretting it - They lose more money from cancelled hosting than they would from just buying the mod.
The new version, with about 3x as many features, will likely be encoded in any case =)
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