After all the publicity and furor of the past couple of weeks, is Gaza better off with the "relaxed" siege? Marc Lynch sees the emerging resolution, if such it is, as a "Good Deal for Gaza," which he characterizes as "the Israeli government will significantly ease the blockade of Gaza in exchange for American support for a whitewash of the investigation of the flotilla incident." Assuming that is indeed what transpires — assuming Israel doesn't backpedal — he's no doubt right, since a lot of investigative commissions can lead to lots of self-righteous denunciations but no improvement in the situation on the ground, while this might help everyday people trying to live in Gaza.
Meanwhile, The Arabist has some thoughts on a somewhat similar line, in "Did the Freedom Flotilla Work?"
It says something about the state of the peace process that we grasp at straws where we can to find good news.