I was following the debate back when it started, but I haven't been paying a lot of attention to the procedural stuff. My general sense of the bill is that they've taken out the main thing that would actually have benefitted people (the public option to enable people to get reasonably-priced health insurance) while leaving in things that make life harder for people and are clearly sops to the insurance companies (mandates).
Three points of view from people I respect (particularly the last two):
Matt Yglesias, a fairly conventional liberal, thinks
it's a great thing that will help people and reduce the deficit.
Glenn Greenwald, a tireless defender of civil liberties from any and all opponents, Republican or Democratic, and constant skewerer of political lies and deception, says
the Democrats, including Obama, never intended to pass a public option and are pandering to the insurance companies.
The League of Ordinary Gentlemen, a collaborative blog with unconventional takes on policy that are often outside the left-right dichotomy, say the bill is corporatist,
"combining the worst aspects of the market and socialism" and will increase the deficit greatly without improving health outcomes.
For the record: I live in Canada, we have single-payer, it generally works well, we picked the guy responsible for it - Tommy Douglas (Kiefer Sutherland's grandpa, btw) - as the Greatest Canadian several years back, and any politician suggesting we get rid of it would see their political career go up in flames in about a nanosecond. It's good to have the security of knowing bills won't bankrupt you if you get sick or lose your job. And we do it without particularly high taxes either (Canadian federal top marginal income tax rate = 29%; US top marginal rate = 35%).
EDIT: WTF, I don't know WHY my links won't work!