Yes, but once your computer is siezed, you're screwed. It only takes one link in the chain to think it's a good idea.

Oops, sorry, "seized."

What the police think matters on the scale of hours, days, weeks -- because even if the courts decide otherwise, practically, the remedy is likely to be limited to the return of the equipment, with no penalties for the police. (The pattern of abuse would have to be egregious, or damages very tangible, for courts or legislatures to rule otherwise.)