In Australia you (and libraries) can lend something as long as there wasn't a licence you had to agree to when getting the original (software eula, etc).
However if the thing is a copy of the original, it must be a legal copy (transcoding a vhs into a digital form is ok, copying vhs to vhs isn't. Recording a tv show is sometimes ok, but copying the recording isn't, etc) and you can only lend it to family members or people you live with.
You can space shift cds (rip a cd for a portable music device, etc), but you can't copy dvds at all (only video tape can be copied). Removing or bypassing region code on a dvd is legal, but bypassing other protection schemes is illegal.
http://www.copyright.org.au/admin/cms-acc1/_images/16934392514f33460a3ae09.pdf
For games, there is no general "backup" provision. You are allowed to make a backup copy of a program, as long as the copy requires no special means of running (like no cd cracks). But you aren't allowed to copy any audio, music, graphics, dialog or other copyrighted content. Any game you can legally back up isn't going to be much fun to play.
http://www.copyright.org.au/admin/cms-acc1/_images/16165712984f3857274a060.pdf
So by australian copyright law, ripping a cd to play on a pandora is fine. Ripping a movie to watch on a pandora is fine too, as long as you ripped from a video tape and not a digital form like dvd or bluray. Ripping a game from a cartridge/arcade board/etc to play on a pandora in an emulator is fine, as long as the game has no graphics, music, sound effects, or script.