Let's try and look at this from a legal point of view and add some perspective here:
The record companies (I don't know which ones) purposely targeted Eircom to 'test' whether or not an ISP would be willing to comply with regulating the sharing of their intellectual property rights (IPR). This is absolutely nothing new, and similar legal proceedings have been brought against 'monopoly' ISPs like Eircom around the world. Very generally speaking, the record companies have had little or no grounds to enforce ISPs to comply for a plethora of reasons, one of the main reasons being, that an ISP is an intermediary and not responsible for the direct internet conduct of its users. Record companies are keen to test these cases in different jurisdictions to find an ISP weak enough to bend over and serve its needs and establish a precedence. It looks like they found that with Eircom.
Eircom's willingness to comply shows the absolute disregard and apathy they have towards their customers (what's new, I hear you say?).
What this boils down to is the record companies being sore over the lack of control over technologies THEY fund to invent, ultimately taking it out on the consumer by finding ISPs as pathetically weak and anti-consumer as Eircom.
As a lot of you already have mentioned, there is a lot of hot air involved with threats made against P2P downloaders. The law simply is not adequately reflective of the real status out there, and bully tactics employed by record companies to trump the consumer time and time again are frankly tiresome.
Eircom on the other hand, show they have no backbone, no actual awareness of the overall ethics behind intellectual property and licence agreements 'standardised' by rich fatcats, and quite frankly are a coward.
Why support them??
It's very simple- change ISP and slap Eircom for being so downright disrespectful to you as their customer, or simply ignore them, continue downloading and be rest assured, that unless you are sharing files en masse, profiting or being 'unreasonable' with your downloads, then there is very little as it currently stands that can be brought against you.
Eircom Employees, if you are reading this, you ought to be ashamed of your wholly regressive and cowardly treatment in serving and representing your customers. This test case could have set wonderful precedent for not just Irish law, but intellectual property law in general. You failed to take a challenge on the basis of fear, lack of information and quite evidently from what is coming out in the news today, ignorance.