I may have missed it above, but I haven't seen any reference to what would happen to one of the ostensibly cherished goals of the PLO-- ie the right of return. That right, both in its strict meaning and in its more attenuated form of compensation, whatever the theoretical niceties would as a practical matter simply disappear as a possibility with the unilateral option. Similarly, (and this is noted above) the likelihood of getting East Jersualem as a capital is at a minimum seriously impaired. Some of the fantasists above like Johnboy who talk about the analogy with Kuwait seem to miss the point that it would not be Israel who would HAVE to "invade"; it would be the (in any event non-existent) Palestinian "army" that would have to consider that option since Israel --rightly or wrongly -- already holds possession of all and more of what it could expect to get through negotiations. It seems to me the unilateral option would work about as well for the PLO as it did for Israel with Gaza.
4 UN peacekeepers injured in Sinai and taken to hospital in south Israel (Haaretz)
from the article: Abbas must unilaterally declare Palestinian state