I think unpaid internships are always going to be a problem in that the affluent are more able to have them than the less affluent, but it's also the case that just about any situation I can imagine such that an unpaid internship would comply with federal law would be a pretty short term affair. Weeks, not months.
But it's also the case that firms offering genuinely valuable internships can probably manage to fork over the $7.25/hr. Problem solved.