Obviously we need to come up with a detailed technical language in order for this law to be effective, but the fundamental point remains that neutrality is crucial to the betterment of our access to information.
I work in telecommunication, and I know exactly what the big providers want to do with throttling. The doors that it opens up are purely insane to even think about, after having 15 years of free and open access to the internet for relatively low cost would any of us want to segregate the network?
The key to maintaining a fast and useful internet is building more infrastructure, capital investment, hard work, and most of all improvement of technology. America has been a leader in internet development, although we do not have as much bandwidth per capita as regions such as Norway or south korea/japan, we do provide incredible amounts of users access at pretty good bandwidth levels for relatively low cost.
In a time when America is struggling to maintain it's place as a world leader in business and industry, would we really want to shoot ourselves in the foot by allowing corporations to milk more money out of obsolete systems? Think about it.