I essentially agree with BOOKWORM, but if there is a problem with the EIR it is the inexperienced pilot who creates a problem for himself. Have we all done that? The theory is fine, but the pilot mistakenly thinks he can get through a line of en route CBs, which even for the most experienced pilot can develop more quickly than the experienced pilot might predict, then shows some sound reasoning and diverts, but had not planned all his en route diversion that well and ends up with a diversion where the weather is more marginal than it should be, now without the best reserves of fuel. It happens, it shouldn't. The difference with the IMCr (or IR) holder is they are now better equipped to deal with the "unexpected" approach.
So having reflected at much length on the EIR it is better than nothing, in fact it is a lot better than nothing, in fact I am not opposed to it, but it is not perfect.
All that said I cant say I understand exactly how it will work. I have read the speculation, but that is presumably all it is.