The better question is, is the website worth prison-time?
Having this disclaimer:
"File sharing is not illegal as long as you obey and comply with all relevant copyright laws. Sharing copyrighted material without the permission to do so is illegal. The membership, however, is not a license to upload or download copyrighted material. We urge you to respect copyright and share responsibly"
is not going to stop you having the pants sued off you, or possibly prosecuted. I am in no way a legal professional but it is my opinion that you are running a high risk operating your site in this way.
Just my two cents worth (I'll send you the invoice).