I'm with Matt. I think the blogger code of conduct is a horrible idea. I can't understand at all why usually level headed people aren't crying foul at the idea. I can't understand why Tim O'Reilly suggests a code in the first place. I think having one is fear mongering of the worst kind.

[UPDATE Why no code? Apart from the obvious "there is no good speech control", Tim Bray has some good notes on the issues - my favourite :"simply because it dodges too many judgment calls". Damn Straigt. And the judgment calls are the conversation. The rules can't be. First comment on that post is good to.

Even more reasons: If stuff like this spreads all blogs are going to suck as much as old skool corporate websites where the paymasters have the idiotic idea that I care about their TOS's and their AUP's. Of course I don't. I care about what they say and what I have to say and absolutely nothing else]

[UPDATE II: More good reasons from Jason Calacanis]