Nice instructions!
This method is probobly acceptable for most uses, but doesn't it result in sacrifice of quality? I've seen some lossless applications around for removing DRM but Apple has taken the downloads of the web. You can however still torrent them, like here:
iTunes DRM Crackers [QTFairUse 6.2.5 and Requiem 1.0] (download torrent) - TPB
Another method that I know is to import then export with iMovie. Instructions are here:
hymn :: View topic - iMovie "Trick" For Mac Users