Here is an interesting analysis article (short and sweet as we say) on “Should the US patent process be revised as suggested in S 1145 and HR 1908?”. Read along ..
I think this move is a right one since it will help harmonizing with the method followed by European Union, where they follow first-to-file system. This will lead to reduced litigation/administration costs and makes things simpler when IPR regulations are unified globally. One major initiative to be taken will be to establish monitoring mechanisms to track the inception/progress of inventions to mitigate conflicts that arise from the race to file first.