Obviously, no one in the poker world is happy.  The US market has been crippled.  As a US player, I was stunned by the massive criminal indictment that appeared to come out of the blue.  My PS funds were frozen and I was unable to get my daily fix of online poker.

My first course of action has been not to panic.  Obviously PS has taken the super careful approach by stopping all US play.  This is understandable being under federal investigation.  I did join the PPA, donated some extra money, which I think is probably the best use of it right now (http://pokeractionplan.com/).  I really hope that we can get some better laws passed to legalize online poker, regulate it, and give the US players the freedom that every American should have by default, the ability to spend their own money however they please.

The law is obtuse at best, but the basic idea is that online poker is not strictly illegal on a federal level, but banks are not allowed to process any payments from US customers to online gambling sites.  Based on this and the charges the government has brought, US customers should be allowed to play any real money game and / or freeroll, they just are not allowed to deposit money on these sites.  My hope is that, after the dust settles, yet still in the very near future, PS allows us to play on real money tables again.  I don't particularly care if I am not allowed to redeposit; this will be a good chance to practice some really intense bankroll management.  I just want to be able to play poker again.

I am actually encouraged by some of the media reaction to this.  Sure, there is lots of turmoil, buisiness deals are getting dropped, but most columnists, even the ones who are not poker players, seem to be of the opinion that this entire ordeal is a waste of time and resources.  Some are likening it to the prohibition of alcohol from the last century, others just think we could be spending our federal tax dollars in more constructive ways.  But all in all, of those in the media actually willing to voice their opinions, not many at all are backing the prosecution side.  We might even get a little bit of support for our cause from the main stream media, but that is being optimistic.

TLDR:
Short term hope: PS opens up real money to US players again (as this is not illegal). They can continue to block US customers from depositing if necessary.
Long Term: donate to the PPA, lobby congress, pass some legeslation to legalize and regulate the online poker industry so that this never has to happen again.