Personally, I don't like it. I don't recommend it.
Religiously, I see it as wrong. However, I don't think that means that it should be a law. For morals to be morals, you must have a meaningful choice. If you have no choice, there is no room for morality. This follows the same logic that a free and open election of one lawful candidate does not make it a fair or legitimate election. In the same way, laws forbidding abortion do not allow for any moral, meaningful choice. To me, a perfect world is where everone can have an abortion, but no one chooses to.
Moral decisions are best left to the woman, her partner (if any), her family, her doctor, and her religious professional. These people are the best qualified to make the moral and ethical judgement in these cases. In other words, moral decisions belong to the people, not the government.
Politically, I'm very wary about any abortion legislation. First off, this is a moral issue, and laws and morals don't work well together. The Feds should not be in the business of legislating morals. Where laws should be made, they should be made carefully, where the State not only has an interest, but a strong and compelling interest. Secondly, I am against the further expansion of government into our personal lives, against the unnecessary expansion of government powers that go with this, and against the growth of government to support this ininitative. In this way, I think that the small government Republicans are right.
This puts me firmly in the camp of Pro Choice, even though I really don't like abortion.