Gizmodo reports that most Internet traffic (and especially peak-time traffic) is HTTP-based video streaming a la YouTube, and gives some more numbers and context. P2P traffic accounts for just 20% of the total. Of course, most bandwidth consumption is limited to a small fraction of the users. Interesting...
This is all based on data from a not-quite-disinterested maker of traffic-shaping devices, so take this with a grain of salt.
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