The Effect on the Market Factor in Fair Dealing/Fair Use Law - What IS the law?

I want to point people to a great post by lawyer Howard Knopf discussing an issue that has come up the last few days at committee. There are people who don't like that the Supreme Court of Canada 6-factor test from the CCH case doesn't prioritize the factors and place the effect of the dealing on the market as the primary (or possibly only) factor. Mr. Knopf deals with what the case actually says, and corrects some misinformation given about the situation in the United States.