The Electronic Frontier Foundation has a pointed writeup on the FISA bill’s passage. This means that the telecom companies that participated in the warrantless wiretapping of US citizens post-911 can’t be gone after in the courts. After President Bush signs the bill into law, the ACLU plans to challenge the constitutionality of the law in light of the fourth amendment.
The fight is definitely not over. The ultimate result of this legislation will dictate how pliable the corporate sphere will be to requests from the executive branch far into the future.