I've watched more than a few free streams for MMA events, I've downloaded so many songs for free it's ridiculous, the fact is - piracy is extremely easy and extremely safe, and when things like this happen, it just makes it easier and safer.
My "moral high ground" is nonexistent, there is no "high ground", there's a "what do I feel bad about doing and what do I not feel bad about doing", and downloading some songs that I otherwise wouldn't have bought (never bought a CD or song in my life and would never buy one) and watching some MMA events for free I simply do not feel bad about it.
On the flip side, I'm not going to steal a car or some food from a store, or go to my friend's house and take his new ipad, or anything like that. I personally would not think this is okay, does it make this any worse than stealing songs and MMA events? Not really, but again, it's perspective.
So, there's no "high ground", there's a "does this feel okay to do?" ground, and that doesn't mean it's right or wrong either way, it just means personally I don't feel bad at all doing it.