"Shouldn't that mean that they're all free of regulations now "
I wouldn't mind THAT happening at ALL! With cell phone coverage nearly everwhere, there's sufficient competition for POTS to warrant more de-regulation. The only reason for regulating it before was that a single company typically served up an area, so it's a kind of monopoly in that sense. What you'd end up seeing is more cell phone carriers providing 'primary service' to residential and business customers, in lieu of physical phone lines, and the local phone companies busy trying to get their business back through more competitive options. Or I'd like to think so. [sometimes it's a crap shoot, but odds seem to be that you usually roll a 7 at the right time]
OK maybe SOME regulations need to remain, to keep land lines from being 'not fixed' for extended periods of time, like happened to me, 3 weeks without land-line nor intarwebs, due to a storm etc. (techs were just BUSY). THAT SUCKED. And it had happened a few times before, too. Turned out one of the splice boxes had a pinched wire in it, and it was MY wire, and it corroded to the point it just freaking broke. Naturally, it was the one my pathetic DSL is on. But I digress...
in any case if phone companies were required to hire consultants to get service calls completed with, let's say, 3 days, it might make things nicer, and possibly not cost more (since it is a rare occurrence). But a nice 'quid pro quo' would be the other de-regulation. So there ya go.