@magicalclick: Same here. As long as the contents are not illegal, Microsoft is right to leave them alone. Afterall Microsoft have not made public statement against that in the past.
If anything, Microsoft should check whether the Apps hosted in the market place intentionally have misleading charge to the users. I read news this morning that an App in iPhone charges about US$100 for a "virtual item" in games, and some child's parents end up facing a $10,000+ credit card bill. This is bad PR and could be illegal based on law of different countries. Microsoft should want to keep an eye on this to avoid similar issue on the new marketplace.