I don't actually know very much about this issue, but I know a little bit. First of all, the Bush administration has never bend Stem Cell Research, they only ban federal funding for embryonic stem cell research, i.e. research in which new embryos will be destroyed. As far as the benefits of such activity, quite frankly, I'm not sure how much I care about the benefits. There are something things that the benefits can never outweight. Chopping up and destroying tiny human beings is one of those things. But I'd better back up a bit to explain my rational behind that statement. I believe that life begins at conception, i.e. that a embryo has the complete genetic composition of a full grown adult human and differs only in size and age and rationality. Generally, I don't think I can chop up people who are smaller, younger and dumber than I am. Consequently, I don't think we should chop up embryos and use them for experimantation. It reminds me too much of the Nazis.
I know I'm being a bit brash, but sometimes it is just easier and faster to simplify the matter.