I don't mean to toot my own horn too much, but it went exactly as I expected. Reddit is a huge business, it was never going to let a bunch of volunteers dictate its policies and business practices. And people are apathetic sheep, so an effective boycott was not in the cards either.
That said, it remains to be seen whether or not the protest was a failure. If nothing else, it motivated a ton of people to seek out alternatives, and those alternatives are getting better, in no small part due to the influx of new users, while Reddit is all but certain to continue getting worse. Digg suffered a sudden drop in popularity following its disastrous redesign, but it kept limping along for years afterward. Did Spez win this battle or did he doom his company? We'll see in five years or so.
Darnov