Halleluiah, you. iffy, are a breathe of fresh air in this thread of unlimited government, "reasonable regulation" and the belief that government know best.
Personally I would love a zero regulations future for e-cigs, but, at least in America, we all know how this is going to go. Moving forward the government will take one of two paths: banning, or regulation + taxation. If the government deems e-cigarettes to be a profitable venture, then they will choose the latter option.
Personally, I think that hardware is relatively safe. "Oh, e-cigarettes have a huge tax on them? Well, this isn't an e-cigarette. It's a flashlight with a detachable head." See: Tobacco shops calling loose tobacco "pipe tobacco", even though it is obviously not.
E-Liquid with nicotine is where the questions come. Regulations I would like:
1. External QA testing.
2. Rules on proper packaging.
3. Age Restriction.(Kids who don't smoke shouldn't vape either, and just like cigarettes, if they want it, the ones who want it will get it)
Actually that's about it as far as I would like.
Regulations I foresee(because e-cigarettes are becoming more and more potentially profitable as time goes on):
1. Restrictions on who can purchase the nic base(merchants only kind of thing)
2. Taxes similarly high like with tobacco products
3. Etc...
4. Etc...(my mind isn't working at the moment, but it'll be crazy)