To me it's whether or not we will allow residential ISP's to charge for tiered service levels when accessing a particular website or service. I say residential meaning traffic over a non-commercial/business grade connection, because you can already define service levels on those connections and that's just fine with me.
E.G. Can an ISP provide the option to pay more to access Facebook faster, and if you don't opt into the "Facebook Package" can they slow your access speeds in order to favour those who are paying for faster access. That kind of thing.
It's very murky though. I'd happily pay for faster access to certain services on my residential connection - give me a "Bittorrent/Usenet Package" or an "Xbox Live" package and I'll jump on it.
I just don't think net neutrality can work conceptually, let alone technically.