Perhaps, but SCOTUS appointees have far more power in influencing the law than Lords, even Law Lords.
I'm hoping that this latest Bush appointee will be a conservative of the Adam Smith Institute style, rather than a raving creationist fundamentalist who's been born and bred on "burn the gays, for Jesus is the way!". A moderate, reasonable textualist, who will interpret the Constitution fairly and maturely, without repose to either Scalia's silliness, or the Left's anthropomorphic view of the Constitution (or rather, don't give in to Scalia, don't give in to Scalia's adversaries, don't let the debate be set by Scalia).
Or rather, a SCOTUS Justice who would hold to a broader, more liberty-oriented originalism, without Scalia's frequent manhandling of the First Amendment.