I'm not a lawyer, but the issue is pretty clear cut: if the content is copyrighted by someone else, then — with certain limited exceptions — you don't have the right to copy it or redistribute it without permission from said someone. The reason VCRs are legal is because of an exception commonly known as the "
Betamax rule"; it says that you're allowed to record shows yourself for the purpose of time-shifting, but it definitely doesn't cover sending shows to someone else.
Are you likely to be prosecuted or sued for recording last Friday's episode of
The Price is Right onto DVD and sending it to someone who forgot to set his DVR? No. Are any of the game show traders likely to be prosecuted or sued? No; unless you're selling tapes or DVDs on eBay, you're not likely to attract enough interest from the copyright lawyers. Does that make trading technically legal? No.