I should say that as a matter of policy, I think the Patriot Act amendment to FISA is a good idea. If the government can establish probable cause to believe someone is a terrorist or a spy possessing foreign intelligence information, that should be enough to monitor them; allowing the government to then use the evidence to prosecute the terrorist or spy in a criminal case seems sensible to me...
Nor am I particularly persuaded that this is "watering down" the traditional Fourth Amendment warrant process. First, the government still needs to establish probable cause to a federal judge that someone is a terrorist or a spy with foreign intelligence information; that's not exactly a low standard, as the FISCR properly recognized. It seems unlikely to me that the government would seek to circumvent the traditional Fourth Amendment standard of pc that a person committed a crime (however minor) simply by establishing pc that a person was a terrorist or a spy; if that's an easier threshold to meet, it's not clear to me why.
That seems quite logical actually.