They ISPs could see what you are downloading but they don't ever report you. Their duty is protect customers. They don't care what you download.
If you hacked a website, web's administrator can know your IP and report to the police and ISP can't protect you in that way.
BitTorrent is different, everyone who download the same thing can see each others' IP. So BitTorrent isn't safe.
Believe me, you don't need Giganews with SSL connections.
I have been using UseNet with unencrypted connection for over a year 
