There is an interesting portion from a UK document from the Information Commissioner's Office: Changes to the rules on using cookies and similar technologies for storing information
Some of the things you do will have no privacy impact at all and may even help users keep their information safe. Other technologies will simply allow you to improve your website based on information such as which links are used most frequently or which pages get fewest unique views. However, some uses of cookies can involve creating detailed profiles of an individual’s browsing activity.
If you are doing this, or allowing it to happen, on your website or across a range of sites, it is clear that you are doing something that could be quite intrusive – the more privacy intrusive your activity, the more priority you will need to give to getting meaningful consent.
Of course the devil is in the details and we're not getting much information. I have a feeling these laws may die on the vine - but I fear that it be pulled out in a later date and sprung on a company or a group of companies.
The following article is worth reading as well:
Enforcing the revised Privacy and Electronic Communications Regulations (PECR)