US Constitution's 'takings clause' - just an executive order?

Takings Clause Void ?

President Bush signed an Executive Order today entitled: Protecting the Property Rights of the American People. I can't figure out why we need such an animal.

The stated purpose of the new order is to restrict the application of eminent domain, which has been sorely abused of late. I'm not sure if I am supposed to be happy about this or not. Why do we need it when we already have the Fifth Amendment to the US Constitution with its 'takings clause'.

The 'takings clause' assures me that my property won't be taken by the authorities without my consent unless a real public purpose requires it. And afterward, I can rely on the Fifth Amendment to require that these same authorities compensate me justly.

The way I see it, our Constitutional property rights have long been profoundly ignored by our legislatures, degraded and diluted by our courts, all while their ruin has been expedited by our executive branch. Why do we need this executive order? Is it just lip service?