Okay, I've skimmed through just about as many posts over the many, many pages of this conversation as I can. Basically, if I may sum up...
For the Air Tran folk, merger brings personal positives, namely much bigger paychecks, much more stability and guarantee of job security for the indefinite future, much better benefits (medical at SWA is unbelievably good by any business standard), etc.
For the Southwest folk, the merger brings a generally great picture of a bigger, stronger company, which will fly internationally (something already planned at SWA), with opportunity for growth (something bound to return in the next few years on its own regardless of an acquisition), and, um, a generally great feeling that we are a big, solid brotherhood of, um, something.
My own humble, personal, but realistic and reality-grounded opinion: as a SWA F/O, my relative seniority damn well better rise from this, or I'm getting hosed.