In case you havent seen it, there is a piece about proposed speed limits on the Ion online website.
The proposals are for 70 mph on the mountain road and 60 mph max elsewhere.

<A HREF="http://www.iomonline.co.im/">http://www.iomonline.co.im/</A>

There will clearly be a consultation period, but it looks a sif its on the way.
In apart of the article, it does says that the paper is NOT in response to the TT accidents.

Mike