Having said that, I can think of a challenging (if still theoretical) area of real, live action child porn using real children that might be hard to ban.
I do think this scenario is increasingly realistic given accessibility to camera phones, web cams, etc. in our current times.
Let's say two under age children using a camera phone or a web cam (or even a household security camera) accidentally or purposefully film themselves doing sexual things to each other. This video remains undiscovered until both turn 18. When they rediscover it, they decide they want to distribute and/or sell this video of the two of them when they were children.
I understand that people who are against even psuedo child pornography will be against the distribution of this video too, probably because they think it will encourage real world child sexual abuse.
But how about those thread participants that support pseudo child pornography but oppose child pornography using real children engaged in sex acts? On what grounds would you oppose allowing these two adults to own, distribute, or sell this video of them having underage sex? Or do you all support them in this right?
My personal take? I think that an adult has the right to sell pornographic imagery and sound of themselves when they were underage, as well as to license that content to others. Of course, that adult would have to be of sound mind, and not coerced, etc. just like any other contracting adult.