Honestly I don think it will impact high-bandwidth illegal tormenting anymore than anything else they've tried to do in the last 20 years.
I am no law expert, or anything close to it. But this isn't the first "hey thats illegal stop that!" law on the books, it wont be the last. And I don't see it doing any better of a job at shutting down "underground" (some more, some less) BT sites than any other law.
I see it as politicians LOOKING like they give a crap and doing something. But in the end, it does nothing at all.
I mean people were doing this before AOL and Compuserve (sharing files - music and games and pictures and movies etc.). they've been doing this since the first "internet" was setup between universities. Its gotten more popular obviously, no one did anything about it in the early 90s because the average-joe wassnt aware of how to do it. But in the end, like any illegal activity, it won't stop the activity, just make it a little more hidden at most.
Wether you agree it should or should not be more hidden is a different topic we prolly shouldnt get into here . Just speaking in the general here.