Ok, so cynical view. Civil war in Ukraine? Pretty much impossible now. With Russia involved, although it's not "war" war, it will for sure not be civil war even if it gets to the point where tanks start shooting.
Also, the western powers will very likely do nothing significant. They will not support partition. Will not provide significant economic support. For sure will not put any troops on the ground. And also for sure will not streamline process for Ukraine to join the EU.
Unless provocations or accidents escalate, we are pretty much on the road to a new status quo. Hello Abkhazia and South Ossetia 2.0. Hello turkish Cyprus... Now I guess opinions may vary, but I'm not sure the likely new status quo one is better than the old one. Still roll up your sleeves and make it so I guess... sovereignity and independence can not truly be gifted, and it can be created in what start as pretty artificial borders.
Finally, considering the civil and national element of this situation is now completely swamped by the international and geopolitical, here are the two main changes I see, an the two trends reinforced.
1st Trend - That brute force and hard power is increasingly shown as apparently efficient versus diplomatic soft power is obvious, and yet I disagree. But well, like the world trundling along to WW1 the tragedy is not yet large enough to cause a strong reaction.
2nd Trend - That US geopolitical strategy is non-existent (feel free to say ridiculous if you'd prefer) since the collapse of the USSR is again demonstrated clearly and I think undisputed. Shortsightedness, emotional overreaction, confusing goals for strategy... you name it, you've seen it. With hardly any counter-examples.
1st Inflection should be accelerating Russian isolation, reversing their recent integration gains. However much as the noises will happen, I'm not sure if the deeds will match the rethoric. Russia may not be blessed geopolitically (rather the contrary I'd say) but you sure can't say they make many strategic mistakes. I expect the comparisons, justifications and rationalizations to come thick and fast. And likely there will be no shortage of useful idiots willing to help out for whatever reason.
2nd and most worrying to me is how this kills nuclear non-proliferation. Obama admin efforts to progress on that? Better forget it. Defense guarantees done in exchange for giving up nukes? Not worth the paper they are written on. Implications for countries near Iran? For countries near China? For countries near Russia? Obvious. Here as well I expect a lot of noise but the actions to speak louder in the next 5 to 10 year horizon.
If Polish leaders, for a close to the flesh example, are not seriously considering at least a push for nuclear power and trying to organize something along those lines with the full Visegrad group and Scandinavian countries... well wishfull thinking is pretty fashionable nowadays. Myopically, as such would anyway be a win win from energy independence side, as well reducing the subsidy to Russian geopolitical efforts through natural gas and oil purchases.
Recommended reading despite US domestic consideration:
http://www.the-american-interest.com/wrm/2014/03/03/putin-invades-crimea-obama-hardest-hit/
And on a lighter note:
http://remarok.net/card/view/9487 My colleagues actually tell me this one is an old joke. Color me surprised... not.