Author (and regular Laboratorium commenter) Gillian Spraggs has posted her analysis of the amended settlement, The Google Book Settlement: A Survival Aid for UK authors. She’s been a strong critic of the settlement before, and little in the amendments has changed her mind.
I’m not aware of any other attempt to spell out the settlement’s consequences for authors in such an accessible and careful way It’s all the more impressive for being wholly volunteered (and even more so, given that Spraggs isn’t a lawyer); I’ve spent long enough with the settlement to know how long it takes to produce such a document. Agree or disagree, this is important reading.