Congress hoped IRDA would encourage problem- solving by encouraging manufacturers and vendors to communicate about Y2K without fear that communications would turn around and bite them in a courtroom. The whole idea of the act is to make it harder to litigate against software developers and hardware manufacturers. There are big exceptions. A readiness disclosure can be used to prove claims for anticipatory breach of contract. You have such a breach when your vendor says he can't or won't perform his contract, although he hasn't broken the contract yet.
Judges can decide to limit the act's protections when they're worried about bad faith and fraud.
The big idea is promotion of communication about Y2K, between and among the business community, academics, government, consumers, software people and hardware makers. Under the act, they needn't worry as much about getting sued for what they say. Under the act, they'll get sued, and they'll fight over whether breaches were anticipatory or whether communications were in good faith. Antitrust laws discourage companies, especially those in the same industry, from communicating with each other. IRDA removes the problem.