Here. Robert X. Cringely: "If Microsoft is successful, Palladium will give Bill Gates a piece of every transaction of any type while at the same time marginalizing the work of any competitor who doesn't choose to be Palladium-compliant. So much for Linux and Open Source, but it goes even further than that. So much for Apple and the Macintosh."
From what I know of the technologists at MS, I believe that Palladium will actually be a good thing. Watch-dogs like Cringely will help to make sure that it is.