Use iTunes to burn a CD of the m4p file, then re-encode that to the
desired format with QT Player or iTunes or anything else that reads
Red Book audio.
I read the original post as being about exporting protected video
content to another format (such as DVD)... with audio it is well
known (and supported) to burn to a simple audio CD and then you can
take it from there to any other format. But for iTunes-purchased
video there's no similar capability, for instance to burn a video DVD
from the downloaded movie. Given this, the only way you can play back
such video content currently is to play it on your personal computer
(connected to a TV if you prefer) or on an iPod (likewise, output to
a larger display if you choose). There's no way to playback this
content in a normal DVD player...
