Yes to AV
I am one of the signatories on the letter in the Guardian launching the Labour Yes to AV campaign today:
I don't think AV is a panacea for Labour or the country's political system but it maintains the link between MPs and their constituencies whilst increasing voter choice, reducing the number of wasted or tactical votes, and ensuring every MP is elected with a mandate from at least 50% of their constituents. I believe it will contribute to a Labour revival in the south and rural areas where our vote has been artificially suppressed by tactical voting under First-Past-the-Post.
Stephen Twigg's article here is worth reading: http://www.progressives.org.uk/articles/article.asp?a=7201
The campaign's website is here: http://labouryes.org.uk/