Yeah, just make sure that if you allow your music to be played on anyone else's system that you erase your music (or trust them not to share it) when you leave. And make sure you don't lose any portable media devices, or even have them stolen, because if your music on it gets shared, you're probably screwed.
And I'm pretty sure that "I lost my iPod" wouldn't be a legit excuse since really anyone who has a file found on a P2P network, even if they put it there themselves, can say that and there's no way to prove they really did lose it or have it stolen.
Actually if your ipod is lost that would be a very good arguement. Although it would give them probably enough to check your computer/s, and if its clean you're probably gonna win. If your ipod *or anything* is stolen you could always be extra safe and file a report. Chance of you getting it back slim to none, but it would still be a nice way to cover yourself.