A blogger on Power Encounter recently made me aware of an Electric Power Research Institute (EPRI) report on the different grid modernization efforts underway in the US, and a comparison of their efforts.
http://www.electricitydeliveryforum.org/pdfs/EPRI_Report_1-07.pdf
It makes a good read, comparing the initiatives on their technical meris. I think it does not give enough credibility to the liberalizing and energizing effect of markets on innovation, and thereby underplays the benefits of GridWise AC.