I wouldn't do away with copyright altogether. People should acknowledge that someone created a work. That said, people should have the right to circumvent any drm they want (maybe not any locks related to government things, if you consider that drm xD). It is in my belief that "piracy" will never die, but it would be reduced if drm was removed and programs wouldn't have ridiculous prices which only encourage piracy among the under-21 crowds (adobe suite and dts hd ma encoder come to mind).

People should be allowed to make derivative works (non-commercially, unless the author allows people to sell derivative works) without fear of said derivative works being deleted online.

As for movies, tv shows and the like, orphaned works should definitely go into the public domain. Stuff like the earliest Mickey Mouse cartoons should go in the public domain. I'm not sure whether Disney (in this example) should let it's characters go in the public domain, but it can't keep them forever.

I was thinking that copyright shouldn't last as much on a work as it does now. Maybe 50-75 years after said work is released, and that's assuming that the work isn't an orphan. IDK.