Again, just my observations, but I get the impression that his two most important objectives are to supply sufficient guest laborers to meet the requirements of our economy and to beef up border security against terrorists (not gardeners and maids).
The bills introduced so far have a lot of bells and whistles that President Bush probably doesn't care about one way or the other.
It looks like the biggest dispute is over whether guest workers have to file their applications (or be postmarked) in their nation of origin. A really silly requirement that serves no purpose other than assuage the tiny little feelings of the Antis. The cost to the economy would not be that great for Mexicans who can take a quick trip across the border, but some that escaped China or other distant nations may not be able to meet the requirement.