Q: What’s the canonical status of priests ordained by SSPX bishops, and what’s the canonical status of the sacraments they administer? –John
A: It would have been marvelous to be able to respond to John that the priests of the Society of Saint Pius X (SSPX) were now fully united to Rome, and thus had a status comparable to the members of any other religious institute in the Church. Sadly, however, this is not the case! While Pope Benedict was clearly hoping to reconcile the SSPX to the Church during his papacy, the fact is that this important item on his to-do list was left unfinished when he resigned in February.
Doug Lawrence's Catholic Site 