I'd heard a little about it, and my initial reaction was, like the pro-90 guy at Calitics, "Kelo was bad, and this might be good." (If you don't know, Kelo was a Supreme Court case that basically said your city council can declare your neighborhood blighted, and then hand it over to a private corporation for redevelopment as private property without even paying you full market rate for the land, or bothering to collect any sort of fee to the public fisc -- as opposed to, for the city council members' pocketbooks and campaign funds -- from the developers. Very, very ugly.) But I'm now persuaded that the provisions they're sneaking in along with the anti-Kelo stuff is just too bad. As JSW puts it, opposing 90 isn't pro-Kelo: "It's just about as reasonable as me saying I've got a great law: It makes sure that no puppies will ever have to be put down again, *and* it has this unrelated provision where we kill every single cat in the country. People against this law must hate puppies!"
ETA: Details about the right-wing NY financier behind Prop 90.
ETA: Also some early (entirely partisan) info on Prop 87...
ETA: Angelides news posted at Calitics.