I think this is total crap. Yes, people can argue that Nintendo has the legal right to do this, but does that make it right? I feel that this could have huge implications for other consumer goods. Once Nintendo sells me their product, I should be able to sell it to a friend or record a video of me playing it. I'm a little surprised at people defending Nintendo in this thread.
You still can...Nintendo isn't stopping you from doing either of these things.