it is probably too far.
Actually, even it is passed and signed very soon by the president, it is hard to say whether it is good or not for people who already filed GC applications. A dramatic increase in visa number will dramatically increase the cases that INS needs to handle, and INS currently lacks a first-in-first-out system to promise fairness, so it could easily mess up a lot of things.
Remember what happened for 245i? A lot of new cases came in causing huge backlog -- and that backlog was caused by the inefficiency of INS, not by VB limitation (at least before sep2005).