I have yet to find a need for a formal DMCA Takedown Notice. I've had my copyright infringed upon more than once and a simple email with the option to license or remove has resolved the issue. I can see the rationale behind the provision but think it also can end up adding to the legal administrivia.
I'd suggest that digital watermarks and EXIF data aren't 'digital locks'.
The change to 'work for hire' rules will, I believe, put Canada out of step with other jurisdictions and could potentially open a Pandora's Box when it comes to employer/employee relations in many different areas with regard to IP. I think it's a mistake.
The 'mash up' provision will also, I think, put Canada out of step with other jurisdictions and extend the concept of 'fair use' beyond what it should be. I'd have to do a more thorough review of the relevant legislations in other countries to be sure. Either way, I think it's a mistake.
I haven't read the proposed legislation in total but based on the summaries I've seen generally I'd suggest that yet again our government has shown a glaring ineptitude in dealing with an issue. The times I'm embarrassed to be Canadian continue to increase in number.