I think you'll find 'Feds' are more after people who do it for gain and the p2p companies themselves. Laws are different in every country making it very hard to pass uniform guidelines. Mr Belvedere puts it like this I quote:
What is P2P anyway ?
P2P stands for "Peer to Peer" and explains a communication technique to share and transfer various computer files. The emphasis being on music , such as Mpeg-Layer3 (mp3 for short) files.
mp3's ? That's illegal !
Not necessarily. There are various (record) companies and artists who like to share (some of) their music , using the internet and its various multitude of programs.
I quote mr Belvedere again:
The thing is , thanks to the lovely way the law is set up , the Justice departments doesn't have the time , manpower nor money to charge small fry.
I now quote Mr Brownstone who puts it so poetically:
At the end of the day think about how many millions of people use p2p networks to download illegal files, youve got more chance of being killed by a broken lawnmower than getting caught!
Not to mention there are a few apps and tweaks around that allow you to hide your IP address, I'm sure if they want it they'll get it, but til then I'd be more worried about that broken lawnmower!