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Personally I'm quite a fan of the details in WHOIS. Admittedly its a great place to SPAM from but with the amount I receive each day its really not a major concern. Would be very nice to get rid of spam but an extra 1 or 2 a day isn't hurting me at the moment.
What the WHOIS provides, though, is a bit of accountability. People are far too keen to hide their identities on the web, and forget they are talking to real people, that real people are viewing their website and that (if they are in business), they should be just as accountable as an offline business. WHOIS is invaluable for finding people's details if you need to contact them regarding a website. Although the real scammers put in false information (obviously, they arn't the only ones to do this) it gives you another weapon against them (it's against the terms of having a domain to put false info).
Overall, I think the details in WHOIS are more help than a problem. I think there should be methods put in place to stop the harvesting that goes on, but details should remain.
If you are worried about your privacy, though, one of the registrars (Dotster perhaps? or was it Register.com?) will put in their own information for you, so that you are protected.
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