Proposed FEC regulation of the internet

I have not yet read the FEC's 45 page draft of new rules regulating speech on the internet, so fo the time being I am going to defer my analysis and refer you to Redstate. If their analysis is corrected (I will be reading and making deciding on that later today), then McCain-Feingold is moving from "slippery slope" status to ice covered and hazardous moutain side status. The FEC's determination is that any internet communication that reaches more than 500 people is public communication which should be regulated. If that standard were applied to the real world, you best hide your soap box and microphone away, because speaking to 501 people in the wrong way (as determined by the FEC) would get you in trouble.