Interesting news. While I like the idea of this, I don't think it will make much of a differance in the long run. I think it's a good thing that Blizzard is trying to maintain the integrity of their games, and the value of their achievement system by going after cheaters.
On the other hand, I fail to see what they are accomplishing. Unless they manage to bring criminal charges to bear and actually get them to stick, with people going to jail, this is pointless.
On the surface 88 million dollar lawsuits sound incredible, but in the end it's pointless if the person doesn't have the money. Debtors prison doesn't exist anymore, and the court system is liable to simply ensure that the person makes an effort to pay it back according to their means, which for a basement dwelling haxxor could amount to sending them like a $5 money order every month or whatever.... I mean a lot of factors come into play, but the bottom line is that you can't get blood out of a stone. The only way you can go to jail for not paying these settlements is if your not making an effort (and effort can mean quite little) or have the money but are refusing to fork it over. Simply owing money can't get people imprisoned as a general rule in the US at least (maybe in Peru, I don't know their legal system).
All rambling aside, the point is that I doubt anyone is quaking in their grav boots. Look at it this way, it's intimidating to go to court and all, but if someone sued YOU for like a hundred trillion dollars and one, does it matter if you don't have that much money and never will? Actually I'd imagine some of these guys might be laughing because Blizzard is spending tons of money going after them, and will never even break even on their legal fees because the people they are going after doubtlessly don't have it.
I like the idea, but it's a PR stunt. Weight being thrown around for the sake of it being thrown around, and to generate hype for caring about the integrity of their games.
When someone actually goes to jail for a serious amount of time over this (which to my knowlege has yet to happen) then it will be a big deal and actually matter.