"Compromise" Immigrant Bill

I have a very important question regarding this "compromised" immigrant bill. So we know there are 11-12 million illegals in this country right now. Are there not, also, many immigrants here that are going through the legal process of becoming a citizen? What does this bill do for them? Are they "grandfathered" in? Do they get the same rights as these people who are pushing to the front of the line? I don't think I'd feel too motivated to finish the long process of becoming a citizen if there was an easier way to do it. I haven't read the bill so I'm not sure what it says. But I haven't heard anything about people who are doing immigration right.