Scott Woolley , writing for Forbes.com , has written some excellent articles on peering and transit and the fights that Cogent got itself into in recent times. It offers great illustration of my explanation of Peering and Transit at Ars Technica.
Specifically I want to single out:
The day the web went dead - about the fight between Sprint and Cogent. Nice numbers are that Sprint started a fight over 0.004% of its revenue.
Metadata: Internet Innards - shows that peering is about power not morality
Telecom Knockout - On Cogent, its boss mr. Schaeffer and the fight with Telia
It really illustrates that the Peering and Transit market is very competitive and generally will come up with a good solution without governments intervening. (why do you think that most telco's don't want to see the voice business go that way? Telco's love government regulation. It has strenghtened the status quo in the voice business)
A great bonus but not peering and transit related is an overview of the money in the business:
Blown to Bits - on a digital world where all communications can be converted into generic bits and shipped over the internet for less. Here are the juiciest profit pools to drain (U.S. figures only).
Thanks to Niels for the tip!