The conundrum is anything but new. What scuppered reform then was a dispute over the method. The Lords wanted proportional representation in the strict sense, which means multi-member constituencies, as in Ireland. But the Commons were wedded to single- member constituencies, and proposed the alternative vote. In the end, neither was passed, though AV was used for electing university members until they were done away with by the Attlee government.
Electoral reform is the policy of the weak.
When proposals for electoral reform came in 1918, the war had unsettled politics, no party had an absolute majority, and there was a coalition government. The best fresh chance for PR would be if Labour failed to win a clear majority at the next election. At present, that looks as much in Charles Kennedy's dreams as William Hague's.