This is an article I found, more an opinion piece, but it speaks of the amendment being proposed here.
http://www.outsidethebeltway.com/archives/7280
And this is the MSNBC piece that talks about it
http://www.msnbc.msn.com/id/5781897/site/newsweek/
The way the electoral college votes is a state issue, but has long been held to be the winner take all rule. I like the issue because it gives people's votes more importance. It would also make it easier for third party candidates to maybe get an electoral vote or two. And anything that promotes the third parties I am in favor for. However, on the reverse side this does seem to be a rather partisan movement aimed at getting Bush less electoral votes. Also it has the added disadvantage of making the state less "popular" with the major candidates. If they are searching for swing states to win, they would want to take the states that would yield higher electoral payoffs. If they are only going to be getting a percentage, I think there would be less incentive to focus on that state. Though it could mean the underdog may focus more onto the state to try to get a few more electoral votes out. Also I think that if this were to be done, it makes sense to do it on the national level, rather than the state level. But considering that electoral votes are more of a state matter, I am not sure as to how that would be done.