I've never really had to worry about this, so the threat of a termination fee isn't that big of a deal. Then again, my carrier is pretty cheap (I pay $30/mo MAX), and it's the only one that gets decent, un-interrupted service in my area.
This is complete speculation, but I feel like killing a termination fee like this would only give an initial drop on service prices as carriers try to entice new customers to leave their current providers. Once companies that consistently can't compete get weeded out, the "power carriers" will probably start raising prices again. I can also see phone companies trying to put a tighter lock on their equipment to keep it from being transferred to a new provider (though people will always get past this), or a drop in specials or promotions that have initial up-front costs for the companies to be offset later through service payments.
Anyone who says that government agents don't know anything about business have never talked to government acquisition officers. They are some of the stingiest, crooked bastards out there that would make any Fortune 500 company proud.