Hypothetically there should be restriction or close watch and monitoring of superheroes to make sure they don't fall out of line, but even that kind of surveillance would have to be super well kept and really under wraps so that they won't be exposed to their enemies. That way, they can be held accountable for potential crimes and can be trusted because we can see what they're doing. Different heroes can be assigned to different areas of be given assignments from SHIELD and given assistance via surveillance of villain activity.
But anyways, Registration was a step too far. Tony basks in public knowledge of who he is and he lives in a highly secure place of residence. Not all heroes have that. A lot of the others live in apartments and small suburban houses and the streets and can't afford to be publicly known because it'd put their loved ones in danger.
Steve's reaction may have seemed a bit extreme but as it was previously stated; the American Government was seriously violating their rights and SHIELD went WAY too far and was forcing itself upon America as a potential Tyrranical force of "justice". Also, recruiting villains was an absurdly idiotic idea. All things considered, Steve was in the right but Tony wasn't necessarily wrong, just inconsiderate.