Verizon is already throttling Youtube and Netflix traffic because the content providers refuse to pay extra for normal delivery.
> 2) Opening the door for more internet regulation seems like a bad idea. At first, things may go swimmingly, but I suspect regulatory capture will creep up on this industry, just as it has so many others. You may trust Obama, but if and when the next Nixon comes to power, will you be as comfortable with the executive's increased authority over the internet via the FCC?
The FCC already has the authority to regulate the internet. It's trying to establish rules within the authority granted to it by the US Congress.
> 3) The language "lawful content and services" to me seems concerning. Could this be the death of bit torrent?
This does seem concerning, but there's some discussion up the thread about what this likely means. We won't know for sure though until the actual proposed rules are announced. This is more of "announcing an announcement" than anything else.