Maybe new technology should be restricted by default until regulation can catch up with it. I'm not sure, but the 'cheap shirts benefit everybody too much to pump the brakes' argument for unfettered innovation leaves me deeply unimpressed.

IMHO the best argument for unfettered innovation is the impossibility of slowing innovation globally; it can be slowed in one country, but that country can't force all the rest to get with that program and will eventually be overtaken by technologically superior foes.