I am not worried about the legal issues. As an individual user your risks are quite small. It's too much of a hassle for producers of content as long as you're not sharing 1000s of films: court orders, suing etc, is not worth the trouble for say 100G of porn.
I would worry more about the safety. It says it will install a booklet on your desktop. What is that, how can I be sure its not containing viruses? Same goes for p2p sharing. Isnt that a very easy way to infect lots of computers very fast? How does that sharing exactly work, like newsgroups or t-o-r-e-n-t-s (wtf is that word illegal? :dunno
If its only to store your own stuff, why not use Google drive? You can register as much accounts as you like of 15G each and the misses cant find it
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