What's going to happen? HR 452 has been going nowhere fast, even with more than one-third of the House signed on as co-sponsors. It was introduced in January 2011 and referred to the House Subcommittee on Health in February where it still sits. Despite the recent hearing, the subcommittee hasn't scheduled a vote on the bill.
At one time there was a push to attach the bill to legislation raising the debt-ceiling but that seems unlikely given the way debt ceiling debate has been going. But there's still a chance that an amendment to repeal of IPAB could be attached to any number of bills. There has been some talk of reviving a version of HR 452 for the Fall when debt ceiling crisis is resolved (hopefully) and more attention can be focused on IPAB.