The majority of children who use P2P applications (children being anybody who is not an adult) are using them to download copyrighted music. In the US, this practice is in legal limbo at the moment, with many people being successfully prosecuted, and many not.
There ARE legitimate uses, of course. But I'll wager that far more people use it for illegal purposes (downloading copyrighted music and software).
Just check out the files available via Limewire or various Bittorrent sites. Chock full of files for anybody to download that the copyright holders have explicitly said they didn't not want available.
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We agree on that.
If its coming from the vendor only, I would consider it a trusted source (to a point). But one has to configure their software to only d/l from that source. Most P2P software defaults to "find anyone on the internet that has the same file name available for sharing" which is clearly dangerous.