Indeed, common sense is a key. I have just put together a post for the members to read i regarding the whole libel issue. I used contect from Digital Rights ireland and other google searches.
You can find it here:
PaintBaller.ie - Defamation and Libel laws regarding Reviews
My biggest issue is the fact that bigger companies can use the threat as a way of silencing people who talk about their bad experiences with them. Obviously if there are untrue statements published then these have to be dealt with.