Well Biometrics are the latest security technique that I'm sure would phase most crackers.
Suppose your video games console comes with built in fingerprint reader, when you go to a store you buy your copy, but your fingerprint is taken when you purchase a game, it is sent to the official database of owners of that game (no names are taken, just a pool of fingerprints for each game).
When you go home, your console must connect online to unlock the game (like Half Life 2), but you need to use the same fingerprint that you purchased the game with or it will not unlock.
If the rom of this fingerprint software were built into the cpu in fixed state, (of the console), the chances of mod chips would be minute as the cpu itself would need to be atered and the chances of doing this safely are near impossible.
Obviously this security will not work with digital distribution, but most piracy still stems from copied media rather than digital distribution.