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The thing with that law is also that you're now paying tax dollars for IP enforcement cops. Not to mention the fact that seizing equipment is now fully legal, even if they end up going and grabbing some shared webserver because 1 guy on it has something copyrighted on there.
Let me know how you think that works out when they grab the server you happen to be hosted on.
In essence IP enforcement is good, on the other hand, think a bit more paranoid and see how this law can set a rather dangerous precedent as to what the govt. is allowed to get away with (a lot, already). A few wordage tweaks and presto, it's now an anti pornography bill.
I'll bet you $10 that some representative has already thought of that one, and soon something will come up targeting porn on the internet with some draconian rules.
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