Once the bad aspects are vetoed, the overall effect of what remains is mostly positive. The doubling of our ability to directly support candidates means a lot. So do some of the other aspects of the bill.
While the president's move may be a masterstroke, cutting the issue from the Dems hands, temporarily silencing McCain, and gathering more votes from the voters than losing, I still believe that signing such a bill and hoping the Supreme Court kicks it back is a dangerous ploy. We have seen the Court surprise everyone and issue rulings that turn the nation on it's head (like Roe vs Wade).
I am very disgusted that he would tell the various groups who supported him through the campaign, the Election, and through the last year that there were 6 problems with the bill that would cause him to VETO. Then when it comes to his desk he signs it anyway, with every one of the reasons he disliked it still intact. How can I believe him when the next issue rises. Making unpopular decisions (re-thinking the use of tactical nuclear weapons, for example) are inevitable. But sticking to your word, and standing by the Constitution are an imperative.
Remember "Read my Lips"? That reversal impacted the grass-roots support of Bush 41st. This, in my opinion, is a greater reversal than that had been.