Florida's delegates are to be seated at 1/2 vote each. Michigan's pledged delegates are to be reassasigned 69 Clinton-59 Obama and all delegates then seated at 1/2 vote each. New totals: Obama 2053; Clinton 1876.5; magic number to win: 2117. Obama now needs 64 delegates to clench the nomination.
I don't have a strong opinion on what should have happened here, but I will say the 1/2 strength compromise does mirror the punishment the RNC meted out to Florida and Michigan so that should cut down on their ability to yammer about the Democratic party not living up to its name.