To my knowlege a No CD Executable, or (CD) Crack is 100% legal as long as you own a valid retail copy of the app/game (or if it's a freeware download). If you lend your copy of Far Cry to a friend, he/she must keep the DVD until he/she returns it to the owner, upon which he/she must delete the game from their HDD. They are not entitled to use a Crack after it's been returned.
I think that's right anyway :snob:.