I'm just watching because I was curious to see how the network/protocol would behave in this situation.
It looks like from look at
btcguild's block page, they believe they're finding ALL the blocks from their perspective. In periods where they're finding >50% of the blocks, they're effectively coming up with their own block chain where they're the winner to everything. When they don't manage to muscle out everyone else, they end up losing their whole forked chain.
Is this right? Anyone with more experience with how the block collision scheme works could probably answer this better, but it's kinda interesting to watch the debug log showing the battles.