the researchers state.. "successful attacker will have access to any information the browser may use, such as cookies used for accessing sites, information put into web application form fields, saved passwords, etc"

pretty serious damage if they can access form fields... and you browsed to your bank or any online account.

Shameless commerce, but relevant: my company, Mocana, just announced a security SDK for Android that readers might be interested in. It's call NanoPhone for Android, and you can download a free trial at http://mocana.com/NanoPhone-Android.html/ -Kurt Stammberger

Correct. In much the same way that the guillotine does no damage to the soles of your feet.