Heh looks like people are still devastated about it. I was too, but I do have to thank Funimation, they gave me the push. They gave me the motivation I needed to learn Japanese. Not far yet but I can actually pick up some sentences while watching anime now ^^. So Thank You Funimation. (if anyone knows. How do you know when not to voice the "i" and "u"? hard to pick up words when you don't know that) now all I need is to improve this skill combine it with international channels and I'm set. ^^
About the Licensing issue. "Technically" it's illegal to distribute copyright materials anywhere but fansubs work on a "No Harm No Foul" idea. As long as it's not harming anyone, financially, they will do it but when something happens that conflicts that idea they cease distribution. If it wasn't for fansubs anime wouldn't have picked up in America and it wouldn't be as successful as it is today.
Anyways as long as it's not 4kids or is going to air on Kids WB then it's fine. Only they are known to butcher anime now by changing names, music, and setting nowadays. Most other companies will try to stick as much as possible to the original script.