Spitzer scandal and (il)legalization of prostitution

I read a short comment over at Less than the least on the recent Spitzer (now a former NY Governor) scandal.
William Stuntz, a Harvard Law professor, writes:

Unless and until we are prepared to punish poor street hookers and rich "escorts" equally, we should abandon the fiction of prostitution bans. The sexual culture won't be reformed by unenforced—or discriminatorily enforced—laws.

I can't disagree with what he writes there (NOT simply because he's a law professor at the Harvard, but rather because what he says there makes sense to me). But I still want to ask, so should we legalise prostitution in all different forms? Is that the only way? It might be, or at least the best we can do for now, and that makes me sad.