On the down side, it's not going to take effect until next December.
It seems pretty safe to say that nobody likes to have their shows, movies and games interrupted by commercials. As bad as the unwanted break is though, it gets even worse when those commercials are louder than the show you're watching.
Thankfully, something has finally been done about it. Cable companies and advertisers didn't do it themselves of course, there had to be a bill sent through congress to make it all happen. The CALM act has finally been passed and enacted by the FCC, forcing broadcasters to keep advertisements at the same maximum volume level as the show you're watching.
On the down side, this won't go into effect for a full year. Until December of 2012 you'll be stuck dealing with the same jarringly loud commercials we have now - assuming that you don't record your favorite shows and skip through the commercials or just download them and skip it all together.