There are no absolutes. The FEC could rule that slander laws apply to internet bulletin boards and believe me, there is plenty of slander going on, some at FR and more than that at DU.
They could also rule that poorly worded comments be banned if they could be construed to constitute a threat to someone or some thing.
They could also rule that NO copyrighted material of any kind be posted.
They could also rule that no material from FR be reprinted or reposted elsewhere.
Any such ruling would be unconstitutional as the FEC was not granted the power to do so.
The CONGRESS *could* do so (and has) in certain cases (such as slander).
To be honest, I would NOT object to haveing the common sense restrictions of speech apply to the internet. Unfortunately, we no longer live in a world where common sense is used! Thus, any federal restrictions of speech, whether on the internet or elsewhere are probably not a good idea.
Those FEC Meatheads should Just. Butt. Out.