Islamophobia, the word, is the recognized English language equivalent of anti-semitism.  

I disagree that the 'the majority of those who are concerned about M-103 are concerned that it is poorly written.'  The definition issue is more usually a red herring originally raised by clearly anti-muslim provocateurs.

There already is a law against blasphemous libel on the books (section 296 of the Criminal Code). Since it was last prosecuted over 80 years ago, it has never been challenged under the Charter, but even so the Supreme Court of Canada expressed doubts as to its constitutionality in the 25-year old Zundel case.

Last point - even your comment  suggests it "can be interpreted as an anti-blasphemy rule."  It is not a rule.