There has been a lot of reaction to those that have been watching the events in Central Asia. Stratfor has done their usual great job of breaking down the facts from the information available. Others have discussed it being a time to begin dusting off the maps and plans from REFORGER (probably a good idea).
Laughing Wolf has broken it down in his own way. Pay particular attention to the last four paragraphs. He particularly hits something that has been bouncing around unfocused in the back of my mind:
Also, if you think that the timing of this such that all major world leaders are in China for the Olympics is a coincidence, then I have some land I would like to sell you. I would very much love to know what is being openly and quietly said in Beijing right now, as I am just about willing to bet cash money that the Chinese are backing the Russian play. China has its own reasons to want this, including Taiwan. Fail to back an ally, bad enough. Cut and run, and the world-wide results would be catastrophic.