I believe the key point is that from 5(1) “This provision stipulates that in the absence of specific contractual provisions, the restricted acts…”
In the CDPA 1988, s28(1). “The provisions of this Chapter specify acts which may be done in relation to copyright works notwithstanding the subsistence of copyright; they relate only to the question of infringement of copyright and do not affect any other right or obligation restricting the doing of any of the specified acts.”
I was wrong to assume that there was no right to “use” computer programs - you are correct, there is such a right, provided there are no specific contractual terms to the contrary. In this case, however, the EULA contains specific contractual terms to the contrary.
As for the 2003 regulations, they are mostly amendments to the CDPA 1988. As such, s28 is still relevant. With regards to non-computer software copyrights, however, such as “ripping” a CD, there is no permitted act “backing up the CD”, or indeed, any full copy of copyrighted material, save perhaps in the classroom.
The UK has also found that “licences for use” can be enforced, through SCE v Owen, where Owen had a licence that was limited to Japan.
“19 *303 The games are sold, as appears to be common ground, abroad with, for example, “For Japan only”. I see no reason from that to suppose that there is a licence for use outside Japan. In the end, it is for a licensee to prove his licence and I do not think any such licence is proved. Copyright is inherently territorial. You need a licence in every territory in which you wish to use a copyright work in such a way as would otherwise infringe. In the case of computer programs, you use the computer program when you load it into the machine–you reproduce the work.”
While the reproduction side of things may have been dealt with, the fact remains that the court recognises the validity of the EULA granting a licence. While this may be a rather oblique point, and the recent case of SCE v Stevens seems to overturn this judgement regarding mod chips, this particular point seems to have made it through. AFAIK, it’s never been litigated directly, but what IK isn’t very much anyway. 
Also, what I have just said depends very much on the validity of an EULA, which is uncertain. If EULAs are found to be invalid, then there would be no stopping the “use” as held in 5(1). I have no doubt that companies could simply print “see http blah for terms of contract” on the front of the box, and have those be contactual terms, though, similar to current railway terms of carriage etc., and those clearly have precedent.
In short: Yes, I agree that there is a statutory right, and I was mistaken. However, manufacturers can trivially contract out of these.