My original post was before I learned that they’re keeping him on at CBS. Still the media thumbsuckers will treat this as sad news, I still predict. Nevertheless, this emailers expresses a reasonable and common response:

You’re wrong – it won’t be reported as a “tragedy”. It’ll be reported as non-news, because it doesn’t really have anything to do with the Bush Guard memos. It’s just a normal “evolution of his career”. And they’ll use the fact that he’s still staying on 60 minutes, where he launched the damnable memos in the first place, as evidence of it.
Until he’s fired from CBS altogether, with Memogate as the directly attributed reason, this is a non-victory.