Steve hit the nail on the head. MAC and self-regulation will have no impact on the reefs because this hobby has little impact on the reefs (when you compare it to other industries and stressors).
This isn't a scientific battle, this is a political one.
The hobby is high profile to the politicians who are trying to impress the soccer moms. The hobby is the only thing that can really be actionable by Congress as the rest is in soverign nations. The hobby also doesn't have as powerful and as organized lobby groups as the environmentalists. The hobby is just that, a hobby, nobody HAS to have a reef aquarium. Finally, we do have the dirty little secrets like cyanide collection and poor packaging, shipping and holding practices at many levels which need to be cleaned up.
Everyone talks the talk, but how many walk the walk? The most common conservation comment is, "I'd pay more for a fish if I knew it was collected, transported and held in a humane manner." I've yet to see a single post on this or other boards asking "Where can I order a net caught fish?" it's always "Who has the cheapest prices?"
What I'm hoping MAC will accomplish is to spin the hobby correctly to the politicians and soccer moms. We need to show concern and efforts towards improving collection, shipping and holding Marine Ornamentals and we need to work harder at establishing and maintaining associations with other Reef conservation groups and hopefully even establish (larger) programs where captive frags and animals are rereleased back into the wild to replenish suffering reefs around the world.