I'll have to give my impression based on communication with outside parties.
My own observation, from having spoken with both aboriginal groups and industry, is that it's far from perfect, in the sense that it would be great to have a code to simply pick up and follow all the rules. The nature of the consultation duty and the fact that it is often very case specific doesn't lend itself well to a code.
Having said that, I think the government has been very successful in recent years in using the interim guidelines to lay out in a great deal of detail for both project proponents and aboriginal peoples how information that each of them provide will be integrated into the decision-making within the government.
I also take some heart by looking at the fact that right after the decisions came out of the Supreme Court in 2005 there was great uncertainty on both sides as to what this would look like. We're six years into it, and most sophisticated resource companies that I see have invested a lot of effort and have incorporated this into the way they do business. I would say probably not.