From my opinion as SLF, these rules are a step forward and have made it clear to the industry that passengers are quite rightly entitled to compensation where delays/cancellations occurred. I have seen a lot of spin coming from airlines (especially budget ones) saying this will impact fares. It hasn't and it won't.
Its more the otherway round. SLF have voted with their feet, resulting in staff cutting, turn around time cutting, spare capacity cutting. Surprise surprise, quality of service has suffered. This is not a case of it being easier to complain / financial reward for complaining (although these are certainly factors), the reality is that the industry has been driven down market and SLF genuinely are getting a worse product.
pb