Yup I think it'll all blow over and the writers will get their fair share of the cut, its only fair.
Good on the writers to go on strike as well, everyone always says things like "without that actor the show would be nothing"...but then again who writes what the actor does? THE WRITERS.
Only thing I am worried about is this starting a chain of events, perhaps crew members or movie caterers may go on strike? its something we would usually laugh at but these people do have big jobs and get little respect for it.
If the strike goes on long enough, maybe there will be some really unique movies written by scabs that come out in 2008 and 2009. Some might be really lame, but some might be fresh and extraordinary; and ten years from now you may be in a video store holding a movie called "The Blind Duck And Gymnastic Jack Go To Bakersfield." Your friend might say to you, "What the hell movie is that." And you will reply, "Oh, just one of those movies that came out back in the 'writers strike' era." And your friend will say . . . "Let's rent it! I just love those old writers strike movies."
And all will be well.