Reading all the articles on the NBA-Donaghy scandal, the most important line I've read so far is:
ESPN.com: Marc Stein: Donaghy questions ... and answers
"It would be a major victory for Stern at this point, frankly, if the league can prove conclusively that no other referees are involved. Ditto for any coaches, players and team officials, naturally."
Stein hit the nail on the head. If this does not extend beyond Donaghy, then its a headache, but it will be minimized and gone soon. If it extends beyond Donaghy, then ... well, who knows how bad it could be.
Here are other articles from the mainstream media:
Las Vegas Review Journal: JOHN L. SMITH: NBA scandal prompts the usual media hand-wringing about Las Vegas
MSNBC: BOB COOK: NBA should support legalized sports betting
And an article from the "gambling media""
EOG.com: Kenneth Weitzner: Anatomy of a Betting Scandal