Federal copyright for pre-1972 sound recordings? (Updated)

The United States Copyright Office is conducting A Study on the Desirability of and Means for Bringing Sound Recordings Fixed Before February 15, 1972, Under Federal Jurisdiction. The background:
Congress has directed the U.S. Copyright Office to conduct a study on the desirability and means of bringing sound recordings fixed before February 15, 1972, under federal jurisdiction. The study is to cover the effect of federal coverage on the preservation of such sound recordings, the effect on public access to those recordings, and the economic impact of federal coverage on rights holders. The study is also to examine the means for accomplishing such coverage.
Update: The Copyright Office has extended the deadlines for comments. As a result, initial comments are due January 31, 2011, and replies by March 2, 2011.