Has the Swedish Pirate ship sunk?

The entertainment industry will be cracking open the champagne after today's victory. The four men connected with The Pirate Bay have been found guilty of being accessories to copyright infringement, using technology to take illegal file sharing to new heights.
Pirate Bay has some 22 million users worldwide and as I write this their Bambuser press conference has already had over 87 000 views this last hour(!) For their popularity the four men connected to The Pirate Bay have each been ordered to serve a one year prison sentence and pay 30 million Swedish kronor.

Will this ruling set international precedence?

Want to learn more? Check out the following:
The Local, The Local 2
Radio Sweden
Bambuser
The Pirate Bay Blog