This is why I hate copy protection. Having to re-authorize a product because you moved the library to another disk drive is f*ckin' ridiculous.
I had a similar experience when I had to replace my motherboard and subsequently needed to re-authorize many plugins. One that refused to cooperate was also an IKM product (Amplitube), so I simply stopped using it. The product's come a long way since then but there's no way I'd consider buying it again.
The more paranoid the vendor, the more likely that problems are going to eventually ensue. I haven't had a problem yet, but Waves worries me the most. What will happen when the company deems one of my purchases as an obsolete product? Read about one such experience
here.