There are a lot of things that can be said about the libel case against Simon Singh, and even more that can be said about the libel laws of England (and to some degree Wales if I am not misinformed.)
And a lot of things have been said, you can find it all over the Internet if you care to look. The important thing is that I believe that the libel laws of England need to be reformed and although I am not an Englishman I feel I can say this for three reasons.

1. English libel laws affect people outside of England. What is called libel tourism is increasing since anyone with a reputation to uphold in England can sue anyone else for libel if they published something that have reached an audience in England, which in the Internet age is not that hard to do.
2. I have friends in England who are in this struggle against an obviously flawed piece of legislature and I like to show them my support.
3. The freedom of speech is important, it is vital for all struggles toward a better society, and it is at the heart of the scientific process. Whenever and wherever the free scientific discussion is threatened rational people must stand up and make their voices heard.

The background to the Simon Singh trial can be read at this sight on this page. To learn about how English libel laws compare to the rest of Europe read this report. It is possible to sign a petition urging the English government to change its libel laws here. Go there, sign the petition, stand up for science!