It is great news, and even though I would have preferred more issues to be decided by a regular majority decision, I am fully aware that, politically, that was just not doable.
The double majority principle will prevent the EU being hijacked by the larger states - to pass something you have to have the yes-votes of 55% percent of the countries in the EU (at 25 states that means if you don't have 14 countries behind your idea, it won't work) - and you have to have 65% of the EU population represented by these countries (with a total population around 450 million that means you need countries representing 293 million - just for those that think Germany and France will rule everything from now on: Germany has 82.2 million, France has 61.2 million - so they're "just" 149.6, or more than the population of these two countries combined, million short of an absolute majority).
So much for Schröder and Chirac ruling everything... people, just on occasion it really helps to look at the numbers behind the, in my view quite far out, accusation one makes...
P.S.: Before you go writing things like "You're from Germany so it's no wonder you'd agree" - I live in Germany, true, but I'm a citizen of one of the smaller EU countries (Austria, population of 8.8 million - about half as many people as the Netherlands has)...
Smile - it confuses people!