I for one think this is a bad thing. I rarely use the search features of Yahoo I will admit that however I use plenty of other things that Yahoo offers. For Starters Yahoo recently change their email. I have been a Yahoo Member since 1997. Their email has not only improved in since those days but its better than any service out there. I also have a Hotmail account which has been replaced by Microsoft's Windows Live service which I might add sucks. The difference in Hotmail and Yahoo is that Yahoo offers so many other things that I have come accustom to. Not only will this suck for Yahoo users but the industry and Web as a whole. If any regulators are listening please do what ever you can within reason to not allow this purchase to go through. Microsoft is more interested in Dominating than Competing which is bad for us all. I think there would be such a loss to the industry as well with as much as Yahoo does beyond search. Think of the email, flickr, and the open source project ajax email client that they developed. Plus the plethora of other services they offer that Microsoft could care less to keep or maintain under current conditions.
p.s. Edit to all those who read this Write your congressmen and impress on them that they yahoo merger will be bad for consumers. For those outside the US write the FTC and tell them how you will be effected. Lets not let this happen if we can make it stop.