The news that major ISPs in the UK have agreed to smack the wrists of hardcore file-sharers is, ultimately, not really news.
This is because film, tv and music - the most popular shared content - is increasingly available in streamable form obviating the need to download at all. It's all going to be in the cloud.
The likes of LastFM and Pandora could take care of the music. iPlayer is already taking care of the BBC's output phenomenally well. Other places like TV Shack, Videostic and, legally, Hulu, are providing the rest.
It does tickle me a bit that just as the industry catches up, the ways in which we can consume music has moved on. Instead of owning content - and all the problems that brings if you have acquired it illegally - you just own links to that content and get served with ads or pay a small subscription fee for it.
This shouldn't be a new problem for the entertainment industry, it's a better solution.