Yes its a chess match at the moment, but the stakes are high..
Russia has already stated that re-arming or basing troops in Georgia will be viewed as an act of war.

The main problem now is the game being played by Ukraine. This can degenerate very quickly.

A couple of days ago, I listened to the Armenian ex foreign minister. He came up with a good theory.. All the Caucuses should be declared non-aligned territories. (Neutral , ala Finland).

I think this would solve a lot of issues.