“Effect.” Duh.
We’re talking about political power here — do not for a moment assume it only “...would be to propose amendments...”. My main concern is the agenda, and who controls it. That is why I do not like the idea of an Article V Convention.
Right now we can propose amendments in Congress. Because of Obama we probably won’t be successful at getting them implemented, but it would be a start.
Propose a marriage amendment, making it only between one man and one woman.
Propose an amendment declaring life began at the Universe’s Creation (one cannot make a baby from inert or dead materiel).
I believe both are entirely possible to pass and send to the States.