It was this part that had me worried the most
"Licensee understands and agrees that the information that may be inspected and reported by PunkBuster software includes, but is not limited to, Licensee's Internet Protocol Address, devices and any files residing on the hard-drive and in the memory of the computer on which PunkBuster software is installed."
Now that may seem trivial for many people...
Some will say you shouldn't have anything private connected to the internet in the first place. While generally good advice, I hate the idea that the burden to secure information could be legally shifted over to the end user, when all they intended to do was play a video game. A quick poll tells me that many people don't maintain multiple systems or read EULAs. Least of all younger gamers. PB may not intend to abuse consumer's information but in my view a clause like that goes against basic consumer protection. What do you think?