Don't just take my word for it, here's the fact sheet entitled "Improving Border Security and Immigration Within Existing Law" (link). And, they said it couldn't be done.
Certainly, most of the steps listed sound worthwhile, but I have a sneaking suspicion that some of them will not only be ineffectual but will infringe on our privacy. And, I suspect that some of the "streamlining" of existing guest worker programs will have a few flaws as well. I also suspect that the usual suspects will raise howls of protest about some of the features, such as changes to the citizenship exam. That will, of course, make the Bush administration look better in some peoples' eyes, who'll think that if the ACLU opposes it they must be doing something right.
UPDATE: The nitty-gritty legal details of the "no match" requirements are here:
Immigration2007a · Fri, 08/10/2007 - 15:12 · Importance: 1