I’m as confused as you are about the Google Books settlement. I’ve found a few analyses helpful.
- Principles and Recommendations for the Google Book Search Settlement by my friend James Grimmelmann
- ARL’s 23 page document A Guide for the Perplexed: Libraries & the Google Library Project Settlement
It’s a more “okay now walk the talk” look at what the settlement says explicitly, what it allows for, and how it should be handled.