Kyl/Cornyn, from my understanding, requires potential guestworkers to apply from their home countries, and has no path to citizenship as McKennedy does. It seems to be a pretty good Bill put together by two solid conservatives, and could get enough support to pass.
It also contains very strong enforcement provisions to be put into place before the worker program goes into effect.
I think you have it confused with Tancredo's plan. I don't believe there is anything in Kyl/Cornyn that delays implementation.
Kyl/Corny also allows for an UNLIMITIED number of guests. And it makes no attempt to define jobs Americans won't do or to protect American workers or American jobs. Every American job will be open to all of the world's poor people.