Will not help the Red River situation, that is for sure. They were already expecting moderate - major flooding.
But on the positive side, QPF is only expected to be around 1.3 inches, which is not a ton for 18 inches of April snow (14:1 ratio). In our storm on Thursday-Friday in the Twin Cities my house had 1.2 inches of liquid in about 9 inches of snow. (8:1 ratio)
Also positive is most of this will not fall on the Mississippi watershed so the impacts on the Twin Cities may not be as bad as it could have been.
Third positive is this storm is the final big one on the horizon for a while. After this moves out most of the country outside the SE and extreme NW will have some time to dry out. But, the SE rainy weather will make the Masters dreary, which is a bummer.