"Much of the information"? Given that the metadata (a.k.a. "CDR" or Call Data Record) is getting hoovered up in all this, about the only thing such a mass of data can be used for is guilt by association. The telco's don't match up CDR with a captured audio stream, so that's done by the NSA (or whoever). They're not going to be able to do that matching, or the semantic analysis of what's said, very often. Therefore, the ONLY thing the metadata can do is determine guilt by association.