No, I don't think piracy is 'fixed' - where there is a will, there's a way
An army of reverse engineering dudes attacks PSP firmware all the time and finds holes - and you can download the games and play them from a memory card. It makes life more difficult, but it can be done.
I'm not familiar with what the 'assigned code' is on the X360, so I can't comment on that.
I'd say copy protection has evolved along with the games themselves. Like in the early days of the Amiga copy protection was pretty simple and grew more complex as time went on - just like the games. PSX and PS2 were further generations, but they were cracked in time.
IMHO it's only a matter of time before any protection is cracked, there is a whole bunch of people all working towards a common goal after all
But of course custom media and stuff like that makes things more of a challenge...