I'm a might bit surprised nobody's talking about this: http://en.wikipedia.org/wiki/Wikipedia:Biographies_of_living_persons/BLP_Spe... here, so I thought I'd bring it up.
I'm really unsure on what I think. ArbCom introducing new policy? That's probably bad. Admins actually empowered to take action over policy violations apart from WP:CIVIL? That's probably good. That action being effectively immune to oversight, except in *maybe* the most egrarious cases of abuse? That's probably bad.
But how the community will respond is still up in the air and needs voices. Recall that even though the ArbCom introduced the contraversial MONGO remedy, eventually the community pushed back until it could no longer be applied farther than the original policy had allowed. So if a lot of people are upset (and I've never seen so much talk of open revolt), it probably is possible for the community to collectively put this into a different, more well thought out form.
Cheers WilyD