Just read Doc's excellent follow-up essay about Grokster. I'm working on a discussion piece that attempts to look at the case practically from the standpoint of developers who understand, as Doc says, the absolutely critical nature of innovation, and that "fear is the enemy here." As soon as it's done and posted, you'll be the first to know. We're also putting together a related talk, and will present it in northern and southern California locations (again, will keep you posted re the details), hopefully in connection with some academic partners.
Bonus links, via Kevin Heller: Judge Posner and Professor Samuelson offer their thoughts.