It is risky. If you have tons of "stuff" open and shared out on the P2P networks then be warned that the P2P networks/shares
are monitored by copyright holders or their reps (RIAA/MPAA/EFI/Bertelsmann/etc.) and your might get sued.
Now that thats said and done there are some other things to add.
1. Most ISPs will not give out your Private account info. without a court order. Some do (and yes it's againt the EU Priv. Laws and you could sue them) so be warned.
2. German courts and lawyers are getting tired of these P2P/file sharing cases and are starting to throw them out before they even goto trial. This doesn't mean
that your case will automagically get tossed, but it is happening.
I'd suggest you start by reading all 9 pages of this thread (Yes all 9) -
Warning to all eDonkey file-sharing usersThen you can make up your own mind/opinions.