I seem to recall UbiSoft themselves made some passing mention about patching out the DRM in one of the Shacknews stories about this. I got the idea it could be patched out very easily.
That's the feeling I get, too. Which makes me wonder...is that akin to putting big glowing "Secret Hideout Here!" signs over your secret evil-genius lair? If Ubi made the DRM easy for them to patch out, won't it also be easier to crack?