I'm sure people said that exact same thing about Bernie Ebbers. Let this thing play out. It's still got a ways to go.
Never say never. 1,500 federal counts of mail fraud are hanging over his head if it's shown that SCO has no IP rights over Linux. Plus imagine the SEC investigation and stockholder suits when SCO goes belly-up if they lose this case. Well, they might survive losing their claims against IBM itself. But they probably wouldn't survive losing IBM's counterclaims or Red Hat's claims. And don't forget, if they lose IBM they pretty much automatically lose Red Hat.
They can only play their "anywhere but here" litigation strategy for so long. If they ever allow something to be decided (which they've been trying very hard to avoid), then the effect will cascade through the other suits.