It is predicted that if it does become legalized, law enforcement costs on hunting it would decrease (naturally) , farming jobs would increase (another obvious answer) , and the economy would boom (much like Virginia did when tobacco was first discovered).
As far as our opinion? Go for it chaps! As long as a law is passed (much like with alcohol) where you cant operate under the influence, it should all be cool. There will be a happier population, less people in jail and lots of time to kick back and smoke a bong :)