Not really. Either the features NECESSARILY depend on tracking or they do so because the website is either greedy for additional information or too lazy to code it a less intrusive way. In the first case, necessity, the user will have to choose between the tracking and the feature, which was always the case. This software will simply allow them to implement their choice. In the second case, the site owners will recode if they want to keep the users/offer the features.
FTC Testifies on Do Not Track Legislation
http://www.ftc.gov/opa/2010/12/dnttestimony.shtm
Pressing the do not track button adds you to the do not track list and identifies you to the site as being on this opt out list.
Didn’t think everyone would be so pro-federal government on this stuff.