I think it's good for the sport, shame for Pistorius though - he's still a courageous guy, but for the good of athletics, I'm with the IAAF on this one!
I second those emotions. A good guy, who's done a great job with the hand he's been dealt, but he doesn't belong in competition (less!) "able-bodied" runners.
Rather ironic, but the big difference between him and most other para athletes is that he's not hindered by a *sound* limb. The other guys can't go any faster (well, at present) than their good leg allows.
It's not a question of "fearing the competition from the differently-abled." Pistorius is involved in a different sport. I'm old enough to remember when people used to speculate about whether wheelchair racers would ever be fast enough to compete with "real" runners. I think we know how that one turned out...