Ukraine and Crimea: The Fallout Continues

In yesterday's speech to Russia's ruling elite, Vladimir Putin said, according to this translation, "Don't believe those who scare you with Russia, who yell that Crimea will be followed by other regions."  He said he did not intend to further divide Ukraine, but that annexing Crimea is part of re-unifying what he calls "historical Russia." Despite international outrage, it looks like a done deal. So far, Russia is feeling no pain from economic sanctions, but the US and Europe plan three steps of escalation starting tomorrow. How much economic damage will the West have to absorb in order to make a difference? Might Ukraine be better off without a restive Crimea? What will a confrontation with Russia mean for US policy toward Syria and Iran?