New algorithm for Discrete log and its implications for Quantum computing
Well, one crucial observation is that the new algorithm apparently only works for groups of the form $Z_{p^k}$ where $p$ is small --- it doesn't give a speedup for groups of the form $Z_p$.  The latter is the much more common setting that people talk about, both for cryptography and for Shor's algorithm, and the new algorithm doesn't threaten the quantum speedup there.  On the other hand, yes, unless I'm mistaken it does make the speedup much smaller in the $Z_{p^k}$ case.