Clinton could have been a great president, even with a the sex/impeach thing. As a person he was likable, and a great orator. He had the fortune of presiding over a booming economy, one that was driven by .com craziness.
After his health care plan fell apart, he didn't push for anything radical. Anything he put forth would be watered down and lite, but nothing profound. "Don't Ask Don't Tell" is a good example of this.
Most of the military actions he committed troops to were done with top priority of PR not mission goal. I.E. no body bags coming home. If i remember correctly in Kosovo planes were ordered to to bomb form a specific altitude, not for effectiveness but so they wouldn't have the slightest risk of being shot down. As soon as Solmolia got hot - pulled out.
If Bill had taken more risks on legislative and military matters (even if some of them failed), he would be memorable president. 50 years from now, he will probably be noted as one of the few two term presidents, had the tech boom, and an impeachment -nothing real significant.
Welfare reform - was a republican effort (that whole contract w/ America thing).