i know it sucks to do this but you should go and "cloak" every link, see, when megaupload gets a complaint that those files are copyrighted material, they're going to check the referring url and alert blogger that your particular blog is linking to illegal material.
place this in front of all megaupload.com links: h t t p://unrefer.com/
? (no spaces)
so: h t t p://unrefer.com/?h t t p://google.ca (no spaces) would be an example of cloaking your referrer when sending people to google.ca
should keep you up and running, etalonhiphop.blogspo t.com does that and that site has been around for a few years now.
also you may as well capitalize off all the people who want to pirate music, you could use this service (I've used it, they do pay out):
Linkbucks.com - Make money when people leave your website!
and of course you want to throw some google ads in there, blogspot has a feature where you can do this from their website. google ads are of course quite reputable.
stack that papa!