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@reulbg
Its not perfect, but is an improvement on FPTP and as irisque says it might pave the way for increased proportionality in the future. Osborne has come out and said a no vote closes the matter for the future, and I tend to think that although the referendum is on AV, a no vote will be interpreted as "the people voted to keep FPTP" rather than "they didn't vote for AV". A yes vote will enable further reform to be built upon it, I'm hoping for a yes and then some proper referendums like are happening in New Zealand, preferably with a short list of other electoral systems to be used. To those who say yes to AV will kick further reform into the long grass I say poppycock! It has already encouraged debate on FPTP and other systems, bare in mind FPTP isn't used by that many countries some of which don't have the best record for democracy, and people seem more aware of the issues around it and well, I think it will be easier to built on AV and to push for further reforms from there than from FPTP.
May 6th: Day 1 of the new campaign for proportional representation (preferably STV)