The issue, for me, is not privacy. I understand that the government is filtering pretty much all internet traffic. My issue is with storing info in fairly unsecure areas. I don't want my credit card number being held by my ISP where Lulzsec can get at it much more easily.
Screw Lulzsec getting it look directly at your ISP and their minimum wage employees. Story after story of employees accessing and using private data stored my ISPs, cell providers to banks. Second off I am willing to bet that although it's not in the bill there is some immunity somewhere that says if the ISP lost your data that was required to be stored by the FEDS you can't sue them.
Time for everyone to start moving back to cash, cash to prepaid debt, using various mail drops that you change yearly, closing and re-opening what bank accounts you do have yearly, etc, etc, all to avoid having live data stored by these folks.