Not much time so will be brief.
Indian armed forces acquitted themselves with excellence, as always, in routing out the pigs from the AFB.
The ISI/JeM decision to launch the assault seems to have been reactive (to the surprise Slumbad visit of Modi) rather than geared proactively towards any considered military or political objective (however tactically brilliant). This separates the current situation from any number of others, from IC814 to Parliament Attack to Kaluchak to 26/11 where the initiative was clearly seized by the Pakis and we were forced to shape our policies reactively. In this case, the ISI played a large number of valuable cards... well-trained, well-equipped and motivated terrorists, a wide network of now-compromised assets that facilitated ingress and infiltration, a number of operational techniques that have now lost their power of initial surprise. All for what? They failed to achieve any spectacularly high death-toll, or to rattle public insecurities, or even to destroy any serious IAF hardware for the photo-op value. This seems to have been almost a panic move on the JeM/ISI's part... "use it or lose it" no matter how small the "gains", because we have to squeak in protest at the Badmash/Modi talks in whatever ineffective manner we can manage.
This is a sea change. THEY were reactive, this time, instead of us as usual. If we play our cards right (and I have little doubt that MAD will), this allows us to gain control of both retaliatory escalation and the bigger narrative.
The single most alarming thing about the Pathankot attack was the method of terrorist infiltration and ingress into the staging area, and the implied cooperation of nexuses involving the drug trade, corrupt officials (including police), and without a doubt local political patronage. Combined with the near-certainty that Kerjiwal/AAP is making a serious bid in the next Punjab state elections, very likely in alliance with politico-criminal networks that have used the Khalistan movement as cover for their violent and illegal activities, this for me is the most serious red flag to emerge from the entire incident.
Unfortunately, there seems to be little hope for this extremely vulnerable and volatile border state, because the main contenders in the upcoming elections are likely to be Congress (who are part and parcel of any politico-criminal nexus anywhere), the SAD (who have allowed such nexuses to fester over the years, possibly in lieu of extracting their own share of drug-trafficking profits), and AAP (who will certainly exacerbate the problem by adding in a virulent ingredient of anti-national Khalistani separatism in perfect accordance with the wishes of all their foreign masters).
THIS is what needs to be dealt with. By any means necessary.