In 1994 the state of New Jersey deregulated the state higher education structure and created a new commission on higher education and a presidents' council. This report presents the findings of a 1998 survey that sought to determine the extent to which the goals of the deregulatory legislation had been achieved and whether the fears of the act's opponents had come to fruition. Respondents, who included state college and university presidents, chairs of governing boards, faculty leaders, state legislators, and leaders of various advocacy groups, were asked to comment on two sets of questions. The first asked about deregulation, the ability of institutions to meet their missions, opportunities for innovation and new degree programs, and increased fiscal flexibility. The second set of questions sought responses to fears expressed by the act's opponents. Although the survey indicated a high level of satisfaction among most respondents with most aspects of the restructuring act, a partisan split remains. Nearly three-quarters of those who supported passage of the legislation (mostly legislators, presidents and governing boards) see it as having benefitted higher education in the state. However, a second group, dominated by faculty leaders who feel they have less of a voice, remain skeptical about the new structure. (Contains 29 references.) (CH)