Just found this, haven't had a chance to read it yet.

http://xxx.lanl.gov/abs/quant-ph/0107070

Is the Universe Really So Simple?
Authors: Milan M. Cirkovic
Comments: Significantly improved version of a comment on quant-ph/9603008; 
Found. Phys. Lett. accepted for publication

The intriguing suggestion of Tegmark (1996) that the universe---contrary 
to all our experiences and expectations---contains only a small amount of 
information due to an extremely high degree of internal symmetry is 
critically examined. It is shown that there are several physical 
processes, notably Hawking evaporation of black holes and non-zero 
decoherence time effects described by Plaga, as well as thought 
experiments of Deutsch and Tegmark himself, which can be construed as 
arguments against the low-information universe hypothesis. In addition, an 
extreme form of physical reductionism is entailed by this hypothesis, and 
therefore any possible argumentation against such reductionism would count 
against it either. Some ramifications for both quantum mechanics and 
cosmology are briefly discussed. 

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