Marshall - 4:32 pm on Nov 20, 2012 (gmt 0)
No matter what is decided, you are not going to make everyone happy. I think it is possible to offend everyone to some degree with the vast number of gTLD's suggested plus increase abuse and misrepresentation. And, of course, the conflict of interests with things like Google controlling .search. And quite frankly, who is going to remember all those gTLD's as many are niche.
One effect I see is the cost of .com's, especially established ones, will sky rocket.