NATO is simply not going to do anything against Russia, even if Russia were to proclaim whole of Ukraine to be Russian territory. All of the hysteria and drum beating coming from guys like Poland and the US are acts of face-saving, to show that they're not completely ball-less in the face of a Ruski threat.
Though, for the US president to threaten Russia with "costs" is an insult, and was in fact seen as an insult on a top level in Russia. Russia's Federal Council proposed to respond by calling off the Russian ambassador to the US.
Quote:
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Vice representative of the Federal Council said, that "the U.S. president has crossed a red line" in his rhetoric towards Russia.
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http://ria.ru/politics/20140301/997697434.html
The Federal Council seems to hold a unanimous position on what actions have to be taken in Ukraine (as well as in regard to the ambassador), as most, if not all, Russians see Ukraine's current situation as threat to their peace and a blatant disrespect from their western friends.
This whole situation however was to be expected. NATO global hegemony was to last only for as long as Russia and China stayed in the background and preferred not to intervene in global affairs. Now a confrontation is arising as both begin to bargain for their national interests. You'll see lots of sabre-rattling in the coming years, but it is highly doubtful any actions on the part of Russia will lead to WW3. Unless of course WW3 is what the west secretly wants.