My wife works in load control here on the Isle of Man. Today she was trying to trim a Dash 8 and a Saab 340 with the extra bags that this security state has generated. It was touch and go.
If this "no hand baggage" becomes general policy, people are just going to have to pack less. Although what's going to happen once the flood of claims for damaged bags + lost electronic equipment starts to snowball is anyones guess!
As to the baggage policies in place, or due to come into place, well, I would imagine both BAA and BA
(and others) will have to review them. If you want people to continue to fly then there has to be a compromise. Not on security, but baggage and the amounts thereof.
I can see the dedicated suitcase makers jumping on the bandwagon very soon with "secure" laptop cases, "damage proof" camera cases and "theft proof" mobile phone holders!
Oh, and travel insurance will rocket!