The ACLU has an excellent refutation of President Bush's assertions on FISA reform during the State of the Union address last night. A quick read, highly recommended. As I've already pointed out, his assertions are based solely on FUD and no valid or legitimate concern for the ability to collect intelligence.
This is my favorite quote, from the end of the article:
"This is all, of course, beyond the pale when compared to the knowledge that the Bush administration sought expanded wiretapping powers before 9/11. The President would have you believe that his administration has gone above and beyond to protect America after the attacks of 9/11, when, in fact, his administration was in the midst of an executive power grab months before the attacks."