We've been watching events like Lodsys running around kicking everyone in the knees and international developers pulling their apps out of the app store out of fear of litigation[1] while Apple seems unable[3] to actively step in and protect its developers.
Then you have other patent trolls sitting around, biding their time and waiting for targets to become profitable enough to make it worth their while to sue[2]
For something that was created with the sole purpose of protecting innovation, it has really become a perversion. Hindsight is always 20/20, but I think the original laws were put in place out of good intentions (path to hell and all that...)
If software patents are done away with, I think we just throw the pendulum in the opposite direction and now everyone with money and strong development teams steamroll the competition.
For example, I am sure Skype developed and patented some seriously impressive tech for VoIP and video that Google, Microsoft and Apple would have simply ripped off if given the chance... as opposed to licensing it or buying the parent company.
There has got to be a middle ground where the original intent of the patent system is maintained, but we do away with these selfish/unprincipled folks that buy up portfolios just to molest the system.
[1] http://www.iphoneanswers.net/2499/will-international-app-dev...
[2] http://mashable.com/2011/07/25/angry-birds-lawsuit/
[3] http://www.edibleapple.com/lodsys-argues-against-apples-moti...