I can't wait to see what happens, it's win-win either way. If he gets arrested by g-men, he'll have a great case against a pointless law that protects pointless technology. If he doesn't get stopped, information on how to thwart pointless technology will get out into the public realm.
UPDATE: hp pressured Perens into scrapping the demo, for their fear of lawsuit. Looks like it was lose-lose, afterall.