For the past 60 years plus, the Arabs, and especially the Palestinians betted on the good will of the UN and the USA as fair mediators and they are both yet to deliver . The USA uses the UN to impose certain UN resolutions such as the ones on Iraq and Libya but refuses to implement UN resolutions related to the Israeli-Palestinians conflict. I believe, the Palestinians need to go a head with this move simply because it will not get any worst for them. The USA threatens with Economic hardship, but I believe that the USA would not dare to do so simply because the only thing that is stabilizing the security in the occupied territory is the money the PA receives from the USA. Without, you could bet on a third Intifada.
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NSA to shut down bulk phone surveillence of Americans by Sunday (Reuters)
from the article: Palestinian leadership divided over plan to seek UN recognition