WCAG2 is, I believe, a blow against both accessiblity and web standards. Joe Clark writes his review of the draft guidelines in a recent ALA article -- more of a scathing burn than a report, really. And I would tend to agree.
Quite simply, the new guidelines, as the stand now in draft form, are impossible or impractical to follow in any realistic environment. They create obstacles for "normal" readers, actively dismiss web standards, restrict creative design, and obfuscate the basic principles of accessiblity (allowing everyone to access content in a reasonable manner). The guidelines are unclear, ambiguous, vague, and dense. Dense in that bad way, not just in that information-rich way.
In my next redesign, I think I'll use my common sense instead, thank you very much.