On the eve of an important ruling vote at the FCC, Brad Feld has written a great piece on the subject. As he says:
There has been an enormous amount of bombastic rhetoric in the past few months about the issue that has recently become especially politicized in the same way the debate about SOPA/PIPA unfolded.
Indeed. And Feld continues on to debunk a few of the most ridiculous ideas and provides links to several other articles going into details. A worthy read.