Post the telecom winter, the U.S. wireline market has slowly crept back to life. Today, on one hand there are buzz words like IPTV, Video-on-demand, Wireless Video, and Metro Ethernet. On the other hand is the stark reality that there is a large deployed base of legacy networks in the U.S. and it is only AT&T and Verizon that are investing actively. Even the third largest Incumbent Local Exchange Carrier, Qwest Communications, has had little to no increase in its CAPEX in 2006. What this really implies is that the lessons learned from the telecom downturn have not been forgotten and a cautious CAPEX strategy will be the norm, especially for those service providers that have deployed legacy network.