Is the DMCA Working?

"The Recording Industry Association of America (RIAA) isn't happy with the U.S. copyright law. Speaking at the Technology Policy Institute's Aspen Forum, RIAA complained that the DMCA "isn't working for content people at all.""

No, the RIAA says. Unable to look for violations in file sharing on sites such as RapidShare, unable to police searches on any of the common search engines, or even unable to locate photos on Facebook, the RIAA is again back to complaining about the Online Copyright Infringement Liability Limitation Act (OCILLA), providing a safe harbor for entities that do not have complete control over content that they host.  But, they already have the right to request that infringing material be removed whenever identified, so I'm not sure what more can be done, legally or otherwise. Of course, YouTube totally disagrees with the RIAA, and says that the DMCA *is* working.  So, readers, what do you think? Is the DMCA working? Are you happy with how copyrighted material is protected? How far will the RIAA take this?