in the peer to peer prosecution cases, it didn't matter whether the people made money. They got fined anyway. The offense was distributing property owned by somebody else.

Also, the forum rules prohibit posting any song to which you don't hold ALL the rights. Even if you completely change it from a 60s pop song to a Jazz or bluegrass style, if it retains enough of the original song to be recognizeable, you're still playing off the goodwill attached to somebody else's work. Otherwise, why would you want to record your version of a cover?

When somebody licenses somebody else's song, they almost always redo the song in their own image... and they pay for the right to do it. Usurping that right as though we are entitled to it is shaky ground. Although it would probably go unnoticed, I'd hate to put PGMusic in a compromising situation.

Again, this is just my opinion. I'm no lawyer. But when in doubt, I tend to err on the side that I've never seen associated with a lawsuit.