Count me firmly in the camp that thinks the whole cesspool masquerading as an athletics program got off extremely light. The only significant punishment is the vacated wins/title (which may or may not stand up through the appeal), but for all intents and purposes, it's business as usual. In fact, an article I read today suggested that the whole sleazey affair, may have the cast the program in a more sympathetic light with recruits.
I don't quite think it's a death penalty situation, but they escaped any penalty that will practically inhibit their future. They should have at the very least, had a substantial reduction in scholarships (as Jerry Meyer said, no one uses 12 players, so whatever loss imposed is basically meaningless) and at the very least another year of post season ban-outside of the already served self-imposed ban. As far as Pitino is concerned, a five game suspension for failing to monitor and supervise the program is a laughable slap on the wrist. Since the NCAA said that Pitiono failed to adequately monitor his program, then basically, the lightness of their sanctions suggest they don't consider that that failing to be a very big deal.