Exactly what I suspected it would be. It's main adjustment to existing immigration rules is to reduce future visa volumes. It honours existing visas. It concedes America's ally, Iraq, as having a functioning state status.
So Iraq enters the category of the Islamic states producing the most terrorists, which, even so, are excluded from the list of dangerous countries. Places like Algeria, Pakistan, Saudi Arabia and Egypt.
Basically, it probably didn't require an EO but they have issued one to save face.
http://www.huffingtonpost.com/entry/trump-water-down-immigration-executive-order_us_58ac3d84e4b07028b703cbd4?
There will be challenges based on the fact that this remains a Moslem targeting mechanism in disguise. But I think the courts will allow this EO to go into effect as the president must be permitted to operate security within reasonable boundaries and the outright ban is lifted. INA does not provide unlimited powers but it does provide broad ones.
On the other hand, Trump has effectively conceded to the rule of law, which is encouraging. He has left his uncurious supporters with egg all over their faces, which is amusing. And he has not addressed the major problem of disgruntled second generation Moslem immigrants to the West, which is worrying.
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