I'm glad they finally stopped suing people. The penalties were too high for the crime, and I wasn't convinced they could technically and legally proof guilt.
That said, this could go pretty badly too. I'm wondering what recourse there will be for people who get falsely accused. Also, I'm wondering if this is legal. There doesn't seem to be much legal precedent, and some of the RIAA's tactics seem to be illegal, or technically unsound. And if the charges won't in a court of law, I don't see how the ISPs could cut someone off from a service they paid for.