Bad because it encourages more illegal immigration and rewards the children of law breakers. Good because it provides a way to document people who will eventually pay taxes (plus, it isn't the fault of the kids for being here). Can't say I support this, though.
Lately I have come to think that since Congress is obviously not going to follow the law, then the next best thing is to to "stir the melting pot", i.e. do everything we can to make these people AMERICANS without a hyphen.