I've seen http://en.wikipedia.org/wiki/Bell's_theorem before and just as before I came to the same conclusion.
For Bell's theorem the correlation of spins calculated from QM makes perfect sense to me you don't even need these long explanations or complex math you can just picture it visually. So in my view the 2 entangled particles have opposite spin about an axis we do not know. When 2 people measure their own particle at the same axis with one axis 180 degrees you get a correlation of 1(always the same). At 90 degrees a correlation of 0(half the time its the same). And at 45 degrees a correlation of .71 because 3/4 the time its the same. Visualizing 2 spheres with opposite spins and comparing how often they have the same spin around a particular axis is not easy but it shows there is nothing "magical" going on. You could even describe this axis and spin as the hidden variables and correlation is perfectly described.
I'm still a bit confused what Bell is doing when he picks some other hidden variables and then gets a correlation of 1, -1, and 0 for the same 180degrees, 90 degrees, 45 degrees. It seems to me like Bell is picking bad hidden variables or has a limited definition of what a hidden variable can be? but I think I need to read more into it if I really want to explain why he's wrong if he's wrong. For now it just seems as though the results of correlation and spin in entangled particles are very simple and don't mean anything.