Before you come back here, quick-click over to Silicon.com and read some cogent quotes from Skype CEO Niklas Zennstrom about why software-only VoIP vendors such as Skype should not be regulated.
Zennstrom (sorry, but this Blogging tool does not understand umlauts) :-(says: "It's is a software app used to communicate just like any other... There's no need to regulate it just like there's no need to regulate email or IM or web browsing."
Hard for me to fashion a counterargument. But readers, maybe you can?