Bowers v. Baystate:

Should shrinkwrap contracts should be preempted by the Copyright Act?

Yes, simply because they fail the extra element test:

However, this extra element test fails under a shrink wrap theory, because the extra element, the bargained for exchange, is markedly absent in such a contract. Here, the breach of contract action serves as nothing other than a subterfuge to control the exclusive rights of works within the subject matter of copyright for a work which failed to meet the federal act's standards for protection.
Why the Contractual Protection of Ideas is Preempted by Federal Copyright (12/00)

see also: the dissent, by Judge Timothy B. Dyk, in Bowers v. Bay State as well as the Pro CD and Vault cases.