I'm very happy for Amanda - and I think it is totally the right move for her. She stated that she wanted to spend more time writing and less time on other things - and this will help with that but I'm not sure it will just poof and go away.
EDI: One interesting quote I saw in the NYT announcment article:
"Publishers, weary of hearing about their disposability in an age when
writers can self-publish their work on the Internet and sell it on Amazon.com,
said they were vindicated by the news."