Download all tools here
Well I have decided to finally post this since, while there is plenty of information out there on these programs, downloads seem to be scarce, and working downloads even more :)

I assembled a working set quite awhile back, and it has been serving me faithfully ever since. You are free to go find the files yourself though, and make the necessary ini modifications. If you don't trust what is here.
This has worked on all of my XP computers and also works on a fully updated SP2 machine. Enough blabber on to the tutorial.

I did this on a file that I do have a valid subscription for. It ticks me off and is a real pain in the ass to use DRM files on fileservers as well as not being able to use your mdeia player of choice. As a result I do this.
I am putting these up so others can exercise their fair use rights as well. All programs and information was originally found on various forums, though the bulk where I put this together was over at doom9.
YOU NEED TO BE ABLE TO OBTAIN A VALID LICENSE TO USE THIS METHOD.
This will not work on files which you have already downloaded and no longer have a valid license.
This is the newly downloaded DRM file.
As you can see, BSPlayer doesn't like it! We will fix that soon enough
Head to the Other folder and launch drmdgb.exe
This will launch WMP. Open the DRM protected file with it
Autheticate yourself and get a valid license.
When the play button appears, click it.
Once you click the Play button, this SHOULD show up. It doesn't always show up though on the first try. Just head back to clicking on drmdbg.exe and open the file again. Eventually it will come!

Next change into the drm2 folder and open SomethingElse.wmv.key
Paste what is on the clipboard into this file. Overwrite anything that is in there.
Head back to where your file is located and drag and drop it onto drm2wmv_e.exe
You should now see this! It is now removing the DRM. If it complains about the key then you didn't do the previous step correctly.
This should take around 20-25 second for a 400 MB file.
You should now have a new file. [NoDRM]-OLDFILENAME.wmv
As you can probably guess, this file has no DRM in it ;)
As we can see (Well you can't since it didn't capture the overlay), BSPlayer plays the new NoDRM movie just fine. Occasionaly BSPlayer will crash near the end of the movie. A quick run through the basic repair on ASFTools fixes that though.
Download all tools here