What's the story on RoHS?

I just found this Slashdot article on Western Digital's new 'green' hard drives, which save 10W of power over normal hard drives. They mention being RoHS compliant, which Wikipedia tells me is the 'Directive on the Restriction of the Use of Certain Hazardous Substances in Electrical and Electronic Equipment 2002/95/EC'

I've been seeing RoHS stickers on more and more computer/electronic stuff I buy these days, and I'm just wondering what folks here think about it. I mean, on the surface it seems like a good idea, and I'm sure any step is better than no step, but does it really go far enough?

 This is an initiative to remove some nasty products (think lead, for example) from consumer electronics.  There is a short-term pinch from electronics manufacturers, but this benefits the consumer in the long-run.  If we can start thinking about the reductions of metric tons worth of harmful products in our consumer products, then the benefits become apparent.  RoHS will become more prevalent in the US, since this is a requirement for products sold in the EU.

Another fine example of forward thinking by our European counter-parts....