The Word From Rome January 30, 2004:

"Despite the rather traditionalist thrust of a new translation of the Mass now awaiting reaction from English-speaking bishops' conferences (see NCR Jan. 23, New Mass translation said to be 'elegant,' closer to the Latin), one much-anticipated choice is likely to leave the most ardent traditionalists disheartened. In the new translation, just as in current practice, the priest says that Christ's blood will be shed 'for all,' rather than 'for many.'

Rendering the Latin phrase pro multis as 'for all' has long been Exhibit A in the traditionalist case against the English translation of the Mass following the Second Vatican Council (1962-65). Not only is it a loose translation, these critics insist, it flirts with heresy by suggesting that all human beings will be saved regardless of their moral choices or religious affiliation.
...
The outcome is something of a surprise since the new translation reflects a general sympathy to the traditionalist impulse...
One footnote. John Paul II has never declared himself explicitly on this issue, but one may glimpse his thinking in the recent encyclical Ecclesia de Eucharistia. When the pope refers to the words of institution, he uses the phrase “for all” rather than “for many.” Most notably, this phrase appears not merely in the modern languages, but even in the Latin version, where the text reads: hic calix novum aeternumque testamentum est in sanguine meo, qui pro vobis funditur et pro omnibus in remissionem peccatorum.

Hence we have a further instance where, despite media stereotypes of a “conservative pope,” some staunch Catholic conservatives actually feel dismayed by John Paul’s “liberal” instincts.

OK...this is an example of John Allen's "conservatives are insane" bias coming through. This is an issue for Remnant and SSPX types to go ape about, others to argue about, but not to think it's a huge deal. It's a rad trad issue not a conservative issue.