Well, the thing is...there isn't an actual bill yet. There's a draft by Senator Kennedy floating around called the "American Health Choices Act", but it's a really, really early draft. It's really hard to talk about the merits of a plan without knowing specifics.
Edit: Looks like I erred.
http://help.senate.gov/BAI09A84_xml.pdf
You might want to read it first. I'll be doing so in the next few days. Then we can talk about it, heh.
Edit again: Re-reading your first post, I know it won't be a thing like Canada's system. They took off the single-payer option out a long time ago, the bastards.