No it is to be determined.  As I pointed out up thread, the application fee, capital requirements, bond amount, and annual license fee are all "to be determined".  So at this point nobody can say the regulations are "good" or "even acceptable".  If NY determines the minimum capital requirements are $100M and the required bond is at least $10M well that would defacto exclude everyone except banks and existing financial services companies (Western Union, GreenDot, et al).  Even once the regs are finalized a lot of it is subjective.  We won't really know how viable the regulations are until Bitcoin startups start applying and the regulator approves or denies the application.