Check out this post: International Trade Impacts of California’s Green Chemistry Regulation that argues California is set to impact not only commerce in products within the state, but in other states and internationally (in contravention of various trade agreements). Arguments are that it may not be ripe for challenge until California actually identifies its first priority products with chemicals of concern may be correct, but challenges are inevitable.
The regulation is set to go live this fall, with a few more rulemaking processes to complete. The latest absurdity is the request for comments on the economic impact analysis of the regulation - which basically says costs and benefits are unknowable until they pick the first priority products, but not to worry "the proposed SCP regulations are process regulations and will not have any significant fiscal impact on business enterprises"!
Senator Boxer is worried that the latest TSCA reform bill from Lautenberg-Vitter (Chemical Safety Improvement Act) will undercut California's efforts by asserting preemption (which would only occur if EPA has already done a safety determination on a chemical). It'll be interesting to see what changes she demands.
Do we know the end of the story? Not for a long time: This regulation will be subject to lawsuits from parties all over the map.