Chait is pretty much correct. The only thing he does not touch on is the idiotic public option debate, where we all get to relive the joyous occasion of the screamers claiming Obama strangled the public option to death in the crib (JUST ASK JOE LIEBERMAN!) while never once grappling with the fact that there were never 50, much less 60 votes.
And then in the magical thinking category, we get talks of a primary challenge. Good luck with that!