Lots of thoughtful comment here Paul; thanks!
I think the thing that disappoints me most about this whole issue is the number of people in government who have made shallow remarks despite the fact they should know better. The statement made by Genachowski is on the FCC site and it's very specific regarding the Internet versus broadband access.
The other sad truth is that Internet access started off being Title I and it was slid into Title II in 2005 with a very slippery justification. The FCC said that the Internet was an "information service with a telecommunications component" and then declined to regulate the telecommunications component (broadband) under Title II where telecom is regulated!
My point here is pretty simple. Most of us think some net neutrality rules are necessary, and in order to have them there has to be a legal foundation for them to be imposed. The "old" foundation was killed by the Court of Appeals in the Comcast case, so we now need a new one. Fixing a status ("telecommunications component") that shouldn't ever have been established is a good way to start.
That's particularly true when the FCC said very clearly that the Internet would stay Title I, an information service and unregulated. The blurring of the categories that the old ruling created was in my view a worse risk down the road, because it imposed Title I on stuff that was clearly being used for non-Internet applications (parallel IP-based video, voice, etc.). That means it might very well have been smart to turn over the 2005 ruling even if the Comcast case had passed muster with the Appeals Court.