The Senate bill may need to modify the prospects of the Public Option, but I don't think we've heard the end of the debate.
In effect, I see a lot of compromise, a lot of good Democratic and Republican ideas in the bill (though you wouldn't know it by listening to the Republicans), and an honest effort to improve the quality of life of American citizens.
It will cover 96% of Americans, according to Pelosi, which are millions of people who can finally get health care. It will have a net positive effect on the deficit - even under the conservative estimates given by the CBO. And it will give consumer protections, and enforcements in place to encourage the right kind of behavior from the insurance industry.
There's not much not to like about the bill, except for the usual partisan arguments. I think people should look at it with an open mind, and would love to hear any honest criticisms.