I buy as much as I can afford and I download as much as I can find. Must have had about 700Gb of music before I dropped my hard drive six months ago. Luckily I had a decent physical collection to get me through.
The industry needs to change as the major labels cant keep charging so much and pushing so much shit music, especialy now there are releases with no physical nature.
Some great net lables out there that give music away on creative commons licences where you can just donate to support them and the cause!
My whole life is geared around music and as soon as I get music that is of a quality I think people wil want to listen to I'll stick it on a torrent site. Who cares if someone copies it, at least they hear it and their friends maybe hear it or it gets played out and a whole club hear it. Thats all free advertsing in my mind. If something is so good you'll want to buy it to support the artist directly but if you never hear it you'll never even know they exist never mind buy a copy and support them.
Also if you play out at a proppa gig there will be a music licence so youll be paying royalties via PRS if they are registered with them.
There wouldnt even be MCPS because even a legal mp3 / flac or whatever download wont have any mechanical copyright issues.
Also take TT as an example, you can donate to fund it and they then release unsigned acts to a huge potential audience, http://www.discogs.com/label/Torrentech
I have also encountered labels from abroad that I would never find without having accidently downloaded a tune that turned out to be phenomenal, £4 a cd brand new from Respect in Russia, how sound is that?
When it is about the music people care and they will support it. I must have around 1500 physical releases, 12 grands worth of gear and I pay for licences when we run events. Download what you can cos you might be looking for it next week to buy.