This review, from way back in 2010, of Diane Ravitch's book is the best summary thus far of the lessons learned from recent education initiatives.
This Edweek blog is the best breakdown I've read yet of where we should go from here (though I'd add to his list of ideas to discuss a no-b.s. look at funding sources for schools, and an intelligent and serious look at teacher training and pay).
11/28/12 Update: I fixed the link to the EdWeek blog; it should point to the correct article now.
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