Up.
Prices everywhere have been depressed by all the bad news and uncertainty of the past month. Good news = up. Right after good news would be the worst time to sell.

Gox will of course go up much faster initially, as people buy and pull their coins out.

There will not be any massive dumping of coins on other exchanges, because it will not take a lot of volume on gox to go back to the normal price level (nobody in their right mind will sell <$600) , so opportunities for arbitrage will be very limited. People that -already- bought $100 coins are going to hodl to the moon, it would be senseless to dump on another exchange only to buy back higher during the inevitable upwards ramp.