Attempts to seriously regulate the internets are finally dead for the moment. HR 1606 will provide a weapon to use against zombie reform efforts which will keep coming back to life.
To make something clear I'm not necessarily opposed to the idea that some day we might be confronted with problems with politics/internets which require a legislative solution. But those problems will only be an issue if they're problems with money and the internet and not simply, as many seem to see it, a problem with letting all sorts of crazy people say whatever they want!
...just wanted to add one more thing which I think has been largely left out of the discussion. The person most likely to have gotten nicked by various reform proposals would've been Markos because he spends a lot of money to run his site. But Markos does't spend that money specifically to promote federal candidates, or for bandwidth for his endorsements, he spends it on the community features of his blog. You need a bunch of servers to power the diaries, comments, etc... and not simply to push a message out over the internets. Basic bandwidth without any real database power is still free or cheap. Markos spends a lot of money to empower others to speak, not to give himself a mightier personal platform.