Today, Slate published an article advocating the revocation of that clause, and specifically cites Jennifer Granholm as someone who would benefit from the change. So congratulations, unknown poster: you were ahead of the curve!
Apparently, Rep. Barney Frank introduced a Constitutional amendment in 2001 that would allow immigrants who have been citizens of the United States for at least 20 years to become President. (Interestingly, the original co-sponsor of the amendment was Michigan Rep. Peter Hoekstra, who is a native of the Netherlands. I guess he thought it would appear too self-serving if he introduced the amendment himself.) No action was taken on it during the 107th Congress, and Rep. Frank hasn't reintroduced it yet. But it's a good idea. I can't see that the clause serves any useful purpose, and as the article points out, it's awfully hypocritical for a nation founded by immigrants to ban immigrants from serving as President.