I think everyoen is missing the keyword here which is suspected. To be suspected would suggest to me that the ISP would have to monitor you Internet activity which IMO is not acceptable. First of all no one should be allowed to monitor what you're doing online to look for suspicious activity. Although it may be illegal to steal a car the cops aren't going to follow you around 24/7 monitoring your activity to make sure you don't.
Secondly this is not the ISP's problem but the problem of the recording industry. It shouldn't be their job to protect the interests of the RIAA. The RIAA should be protecting its interest and should have to stay within the confines of the law which they seem more than willing to break.
Lastly I have no sympathy for the likes of the RIAA or MPAA because of past practices and things they do now. They have been raping the consumer and musicians alike for far too many years. I'll point out they unsuccessfully tried to make video tape recorders illegal (see betamax decision), successfully got DAT recorders taxed killing that format and attempted to do the same thing with both MP3 players and CD/DVD burners. If it was up to them this technology would not be in the hands of the public... You know why there isn't any cheap portable CD burners on the market? For same reason DAT tape never became cheap, there's a tax on such devices that goes right to the RIAA.
Do you really want these people influencing politicians and the laws they pass?
Actually they are "starving" now, the average musician makes a few cents on a download. Most of it goes elsewhere. Music I'll point out who's cost for distribution is measured in fractions of cent, is much lower quality that what is on a CD, cost more than if you bought the CD and of course has DRM which limits what you can do with it.