So far then, unless the PRC has rediscovered and megatized the secret that Lamont Cranston learned in the orient, everything concerning this carrier is controllable.
After 2008, should a democrat come into the White House, the manageable nature of this may not stay the case. The military side of it will still be manageable, but the political side may go south in a hurry...and I believe that is exactly what the PRC hopes for. They hope to influence our politicians where any additional cost associated with helping Taiwan is determnined to be "too much" and therefore warrants only a token defense. In that case, they will accomplish politically what they could not do militarily.
Otherwise, IMHO, they will simply use it to show off the flag, worry their neighbors, and get all the training and experience they can until the can field more of their own carriers.