Pragmatically, the bill is 61% of the way to guaranteeing the majority of Electoral College votes and the presidency to the candidate who receives the most popular votes in the country.  

All voters would be valued equally in presidential elections, no matter where they live.
Candidates, as in other elections, would allocate their time, money, polling, organizing, and ad buys roughly in proportion to the population
			
Every vote, everywhere, for every candidate, would be politically relevant and equal in every presidential election.
No more handful of 'battleground' states (where the two major political parties happen to have similar levels of support) where voters and policies are more important than those of the voters in 38+ predictable states, like Oregon, that have just been 'spectators' and ignored after the conventions.