Remember this is a solution proposed by Microsoft, and thus has not been accepted by the EU, and the rest of the browsers makers involved in the case. And it would be WRONG to accept it. Not only it does not solve anything, it f**** users in the process while giving Microsoft an advantage in browser distribution with their proposed 'channels'. Seriously, how difficult is to display a window the first time the user tries to access the Internet showing all the possible alternatives (there are not so many after all)? I assume IE controls will still be bundled with Windows (otherwise, tons of apps will break), so all you have to do is set up a page and show it up there.
Still, even if you choose a middle ground to keep everyone happy, what's the point? I understand Opera's original complain, and I also understand Mozilla and Google backing it up, but this is 2009 not 199x. You only have to take a look at market share numbers all over Europe to see that IE is receiving some serious beating by Firefox in many countries, heck, even by Opera in Eastern Europe. I think fair competition has been more than restored since IE's rise to prominence in the late 90s and the subsequent lock on the market.