Without getting too much into the Fairness Act thing, I think it's an infringement on free speech and another case of governmental babysitting that shouldn't be there. I am not a libertarian; I think that some government is a good thing (and not just to protect my property from the undue violence of others) but the Fairness Act brings it far, far too far.
On the other hand, the FCC sort of has a point; it's their airwaves and they can police them. Bad for Howard Stern. Good for liberal talk-radio (wtf?). But that was just to answer you, Z - if you want to discuss it, feel free to make another thread. :)