Impact of Java Vulnerability

Does anyone have any thoughts on the impact of the Java vulnerability discussed here:

It sounds like a serious vulnerability in older versions of Java, requiring an upgrade to 1.4.2_06 or greater.  

Obviously everyone should move forward with patching.  But I'm trying to gauge how serious this is, and with what level of urgency we should move forward with a patch process.  

Any know real world exploits using this yet?  Any known cases of hacks? etc

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Hard to say.

It's easy to exploit and spammers and phishers have been known to exploit this type of thing in the past.

On the other hand, the spammers/phishers won't bother to exploit this while there are so many IE exploits floating around that work so well (since more people use IE than Sun's Java plug-in).

But, the upgrade is pretty easy, so I'd go ahead and plan for it.

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