The MPAA (Motion Picture Association of America) has won a default judgment against Valence Media’s download site Torrentspy. The judgment is handy for figuring out exactly how much all those free movies everyone’s downloading are worth. According to a federal judge, $110 million dollars ought to about cover it. In 2006 TorrentSpy was more popular than any other BitTorrent site, but this changed quickly in August 2007, when a federal judge ordered TorrentSpy to log all user data. The judge ruled that TorrentSpy