(Denny Crane: "Sometimes you can only look for answers from God and failing that... and Fox News".)
Yes, it will. I'm more interested, though, to see how Pope Benedict XVI treats us Protestants. If reconciliation means coming under the authority of the papacy, I can't imagine many Protestants would go for it.
What would go a long way is an admission that yeah, both sides made some mistakes in the past, but we still have a LOT more in common than not.