My history is as rusty as an 1982 Corolla, but aren't the sorts of things W. mentioned in his speech the same things used to justify the existance of the SS?
Even Spike O'Dell, noted conservative talk show host in Chicago, was hemming-and-hawing about this particular move.
I agree with your statement: "so long, civil rights, it's been nice to know ya...". What with Carnivore now available to anyone who asks for it without the inconvenience of a search warrant, the SSSCA and other associated bullshit "laws" designed not to combat terrorism, but rather, as far as I can tell, to insure that those running things continue to run things, vigilance on both fronts (terrorism and American civil liberties) is required, as Bill Oxley says above.
I am not hopeful.
(...and my sig stands...)