Scenario 1:
If the situation on the ground was really as described here - one of clear and brutal Georgian aggression:
1) Look at their strategic position. They could do this invasion whenever they wanted.
2) Realize they are looking across the table at an idiot, Bush, who will be gone in a few months.
3) Prepare a suite of "non-standard" reponses to America and Israel.
4) Most important. Do the political preparation necessary so that in the event of a Georgian attack, they could take the opportunity to turn the tables on the Georgians, the U.S. and Israel and do huge damage to the standard storyline about Putin and Russia.
What the Russians needed to have on the ground when the Georgians came in were lots and lots of cameras and persuasive people to describe what was happening. That would have given them a huge political asset they could have cashed in later - AFTER Bush was gone.
Scenario 2:
If there were - you know - reasons Russia didn't want cameras in Georgia:
1) Wait for Bush to leave office.
That's it. Don't be pushed into mirroring Bush's blunders by Bush. Do the political work. Hold on. The timing seemed to be textbook but the risks are, in fact, much, much too great.
Putin had huge advantages here that he has wasted, as I see it, by being too Russian-macho about this. Its foolishness and he should be ashamed of himself.