So it sounds like the deal is done, on the basis of a Commons free vote for a PR referendum.
As face-savers go, it's gonna fool next to no one.
Irf I'm being kind, I'd concede Clegg was in a shit position, that a deal with Labour was near impossible (damned with Brown, damned without him, and either way still a minority) and one relying on Nats would've been catastrophic, especially for Labour.
As a Labour supporter, this is the best possible news for our party, as the LDs should lose at least 5% of that 23%, a good chunk of it to us. And we get to dodge the immediate blame for these incoming cuts.
Trouble is, it leaves the Etonians swinging the axe... Fuck

edit: Oh, and if anyone can get a pic of the next Guardian editorial meeting...