"As for regulations reducing pollution, if that were the case, we'd see a dramatic drop in pollution rates over the last 5-10 years. We really haven't. "
Actually, regulations started in the 50's and 60's when the rivers were on fire and Love Canal poisoned neighborhoods, and LA smog was as thick as fog every day. Today, we have far more economic activity, and despite that, we dont have a commensurate increase in pollution.
Many rivers have been cleaned up, most cities now have breathable air, and where there is pollution, its because the laws have not been enforced.
In the days before regulation, people polluted like crazy.
Your notion is that if we abolished speed limits, the traffic would get smoother. An arguable question. German Freeways certainly work well. But if you removed all cops and traffic cameras? Hm. What could go wrong?