It might be a bit far-fetched, but M2Z Networks is offering an interesting deal to the FCC in exchange for a bit of that high priced spectrum that's about to be auctioned off. The plan is to provide free ad-supported national 512Kbps wireless broadband, along with a premium service, using the spectrum in the 2155-2175MHz band. In exchange for the spectrum use, M2Z would give the FCC five percent of their gross revenues. We wouldn't think the FCC would ditch their normal auction method for just any hair brained scheme, but M2Z was started by former FCC wireless head John Muleta and @Home founder Milo Medin, and claims to have access to $400 million in capital. Free national wireless broadband is also surely in the public's interest, so this just might work after all.