In an excellent overview of the Kosovo-Serbian situation, Ruth King provides the background necessary to understand the significance of independent Kosovo (not provided by the MSM--naturally).
Implications? Not good. Here's one big fat reason:

Western leaders are blind to the danger to themselves in the principle they are establishing, namely that recent illegal immigrants from another state have the right to declare independence over territory long recognized as part of a different sovereign state whose inhabitants they have ruthlessly forced to flee.

As they say, read it all.