that already didn't work

so i was watching al jazeera last night and they had some pundits talking about some pro-israel lobbying group in the US. somehow the topic veers toward the peace process between israel and palestine and one of these guys says something about working toward a "two people, two states" solution. this sounds to me a lot like separate-but-equal. to which i have to say, didn't we try that already? in the US, i mean. and--feel free to correct me if i'm wrong--i'm pretty sure it failed. miserably. if i can recall my 10th grade US history correctly, it ended up as a big blob of poop on the face of US history, 'cause y'know it wasn't a remotely fair system. and i ask you, if israel and palestine are officially split into two states, and one of them--israel--gets to keep in its possession jerusalem (which i can't imagine it wouldn't) and a whole lot of other land that palestinians used to live on (which i'm guessing is probably the better land in the region, at least the most useful in terms of agriculture) and then the palestinians get the crappy land that they've been herded onto, is that fair? is that a system of organization that is going lead to a peaceful co-existence between two historically antagonistic groups of people? what kind of palestinian would agree to that?