It sounds like the Senate bill could have some form of a public option. And confirmation of this development is coming from strange sources: Ben Nelson and Kent Conrad. It's vague, but telling.
I wouldn't be surprised at this point if it was the opt-out public option. If it is, we can only hope that, in exchange for the opt-out, it's a robust public option (Medicare Part E). If a robust public option from the Senate goes to conference with a robust public option from the House, we can almost break out the party favors.