I was just about to say much the same myself, Techman.
Back to the topic, it will be interesting to see what transpires next week. Personally, I don't think access to the US market is a real runner. Although low cost carriers seem to have "levelled out", they still pose a major threat to the majors and consequently, their efforts would probably be best focused on their European operations, rather than opening a whole new front.
Open Skies between the US and Europe would be an extremely positive development for both economies and a major job creator - for airlines as well. There will be downsides, but I think the upside far outweighs it.