well, i think if registration is successful and sticks around (i.e. is not removed for violation of civil rights, etc, etc within a year of passing... and yes, sinister's current plan is working toward invalidating it in a sneaky manner) it's likely to lead to a Civil War.
personally, I think some continued tension over registration is good, but having it stand will only lead to railroaded concequences in my mind. Marvel's just done enough of that sort of story to make it unappealing in the long run for me. Every now and then, sure. but not as a near constant battle. it gets really tiresome to see it rehashed again and again.