What's a reasonable approach for managing broadband networks?

[Commentary] The recent attention to the Comcast-BitTorrent dispute and on Time Warner's recently launched trial of "consumption-based billing" raises the question: what is a reasonable approach for broadband networks to manage their Internet traffic? In Cerf's view, Internet traffic should be managed with an eye towards applications and protocols. For example, a broadband provider should be able to prioritize packets that call for low latency (the period of time it takes for a packet to travel from Point A to Point B), but such prioritization should be applied across the board to all low latency traffic, not just particular application providers. Broadband carriers should not be in the business of picking winners and losers in the market under the rubric of network management. Network management also should be narrowly tailored, with bandwidth constraints aimed essentially at times of actual congestion.