American pundits have their knickers in a twist about Russia. The Wall Street Journal called Putin Vladimir Bonaparte today while in today's Washington Post, George Will compared the invasion of Georgia with the outbreak of World War I. Yesterday, Robert Kagan compared Putin's raid on Georgia to Hitler's march into the Sudetenland.
As Bart Simpson might say, "Don't have a cow, man..." It's serious, but not the end of the world, nor the start of World War III.
IMHO, the current Georgian-Russian war has a lot more in common with the 1974 Cyprus crisis. Then, Turkey (a NATO member) invaded Cyprus (supported by Greece, also a NATO member) to protect Turkish Cypriots from Greek Cypriots. In the end, the island was divided into Greek and Turkish zones, under a cease-fire. In the case of Georgia, the Ossetians can be seen as equivalent to the Turkish Cypriots, in this case protected by Russia.
Here's a link to the Wikipedia entry for the 1974 Turkish invasion of Cyprus.