NBC drama, but not in the form of a television show

While things seemed to be moving smoothly with the NBC late night shake-up, Conan O'Brien rejected NBC's proposal to move his Tonight Show to 12:05 a.m. weeknights. The full story is here. I have to admit, I didn't see this coming. It will be interesting to see what happens next since NBC has already announced that the Jay Leno Show will no longer be airing at 10 p.m. Does this mean NBC will have to part ways with either Leno or O'Brien? Would you be sad if one was forced to leave the late night arena?