No doubt a lot of people are going to be talking about this, so I wont. Instead I'll just paste a couple of links and wait those short 2-3 years until we start to see some broadband improvements!
Link: Govt to open up Telecom network for faster broadband
Link: A LOST OPPORTUNITY FOR NEW ZEALAND (Telecom's media release)
Link: Publicaddress.net
Link: Internet NZ Blog
Link: Close Up: Telecom
Edit: Added another link, as more people are writing about this today. Russell Brown also points out something which will please a lot of people, myself included:
Unbundling ain't the half of yesterday's unexpected announcement on telecommunications regulation. The real curveball - one that will force Telecom to get a new business model - is a mandate for naked DSL. That is, a line without a dial tone, leaving consumers free to use their line only for broadband data, and choose their own voice solution. That's huge.