Lawrence Lessig writes:
So while it is true that we have had both:
(a) common carrier like regulation applied to the Internet, and
(b) basically no effective regulation applied to the Internet
and it is true that we have had both:
(c) fast, fierce competition to provide Internet service and
(d) just about the worst broadband service of the developed world
it is not true that we had (c) when we had (b).
We had (c) when we had (a), and we have (d) now that we have (b).
Check out his entire entry on why regulation would help the U.S jump up in the rankings from the 15th place or so it is in world broadband rankings.