I remember seeing a report about the French and their breeder reactors on 60 Minutes at least 20 years ago. At that time the French said they could recycle all but 3% of their nuclear waste.
Breeder reactors are potentially wonderful efficient users of uranium. The only trick is the byproduct can easily be processed into weapons grade plutonium. Plants that use MOX fuel however can use up weapons grade plutonium as a fuel source and you dont need a Yucca Flats type repository.
http://en.wikipedia.org/wiki/MOX_fuel