According to Mekon, the guild master of the former PvE branch (which remains on EU-Veknilash but is now renamed "Put Your Name Here" -- you can't accuse them of not having a sense of humor), it was the PvE players' decision to leave, "absolutely nothing changes within the guild," and they will continue to pursue world firsts in Wrath. We interviewed Neg, one of their resto Shamans, not long after they got their world-first Kil'Jaeden kill. This was less than a month after the major U.S. raiding guild Death and Taxes had gone the way of the dinosaur, and Neg had some insightful observations concerning what was happening to raiding guilds with Wrath of the Lich King on the not-too-distant horizon.
At the time I privately hoped that other major raid guilds wouldn't suffer D&T's fate, and...well, this isn't really it, I suppose. Both sides of SK Gaming will continue to operate, just independently of each other (from both an organizational and financial perspective). If nothing else I find it a fairly thought-provoking commentary on the degree of Blizzard's success attempting to legitimize arena as a true e-sport, and how the game's top players see the PvP side of the game increasingly disconnected from its PvE counterpart.